is the native utility token of the BNB Chain ecosystem (originally Binance Coin), launched in July 2017 as an ERC-20 token on Ethereum before migrating to its own blockchain—including the BNB Beacon Chain and Binance Smart Chain (now collectively BNB Chain) . In 2022, Binance rebranded Binance Coin to Build'N'Build, and Binance Smart Chain to BNB Chain .
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Key Uses and Utility
BNB serves multiple roles within the Binance ecosystem:
Transaction fees on the Binance exchange grant users discounts when paid in BNB .
It is used as gas for on-chain transactions and smart contract execution on the BNB Smart Chain .
It functions as a governance token, enabling holders to participate in BNB Chain’s decentralized governance .
Additionally, BNB can be used for exclusive token sales, staking, DeFi, and as payment at partner services like hotels and gift-card platforms .
Binance implements a burn (token burning) mechanism, periodically buying back and destroying BNB to reduce total circulating supply—capped at 100 million coins—to support long-term value .
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Background & Tokenomics
BNB began with an Initial Coin Offering (ICO) in July 2017, with total issuance of 200 million tokens: 40% allocated to founding team, 10% to angel investors, and 50% to public sale .
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Market Landscape & Performance
As of now, BNB’s live price sits around $807–$811, with a market cap of approximately $112–113 billion USD, and 24-hour trading volume around $2.3–2.4 billion USD .
It recently broke above the $800 resistance—the first time since 2021—indicating bullish sentiment. Analysts point to $850–900 as near-term hurdles, with $1,200 as a medium-term target, supported by ecosystem growth and on-chain activity .
BNB also hit a new all-time high (~$859) during a strong rally, backed by Ethereum-level momentum and Binance platform upgrades .
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Why It Matters in Crypto
BNB is ranked among the top 5 cryptocurrencies by market cap, alongside Bitcoin, Ethereum, Tether, and XRP—highlighting its prominence and utility in the broader crypto space .
As a utility platform token, BNB provides frictionless access to trading fee savings, DeFi services, token sales, and governance—making it more than just a speculative asset .
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Summary Table
Feature Highlights
Launch July 2017 (ERC-20 → BNB Chain)
Rebrand 2022: Binance Coin → Build'N'Build
Supply Mechanism Max 100M; periodic token burns
Primary Uses Trading fee discounts, gas, DeFi, governance
Market Position Market cap ~$112B; top 5 crypto by cap
Price Outlook ~$800–860 current, potential to reach ~$1,200
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Final Thoughts
BNB stands out as a versatile and robust utility token within the BNB Chain and Binance ecosystem. With strong adoption, strategic token burning, and growing on-chain activity, it's positioned to remain a cornerstone in the crypto market. Whether for trading, DeFi, governance, or broader institutional use, BNB continues to drive value across the decentralized landscape.