$BNB
#BNB (short for Binance Coin) is the native cryptocurrency of the Binance exchange, one of the world's largest cryptocurrency exchanges. Initially launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB later transitioned to Binance's own blockchain, the Binance Chain, in 2019.
BNB has multiple use cases, including:
Trading Fee Discounts: Users can pay for trading fees on the Binance platform with BNB, often at a discounted rate compared to paying with other cryptocurrencies.
Token Burns: Binance regularly performs "token burns," where they buy back and permanently remove a portion of BNB from circulation. This is intended to reduce the total supply of BNB, theoretically increasing its value over time.
DeFi & Staking: BNB can be used in various decentralized finance (DeFi) applications, and it can also be staked to earn rewards.
Payments & Transactions: BNB is accepted for payments by various merchants, and can be used for transactions on different blockchain networks, thanks to the Binance Smart Chain (BSC), which supports a wide range of decentralized applications.
BNB’s value is influenced by the overall success and adoption of the Binance platform and the #roader cryptocurrency market.
