$BNB

$BNB #BNB refers to Binance Coin, the native cryptocurrency of the Binance ecosystem. Binance is one of the largest cryptocurrency exchanges globally, and BNB was initially launched in 2017 as an ERC-20 token on the Ethereum blockchain. It later migrated to Binance Chain, a blockchain developed by Binance.

Key Features of BNB:

Utility Token:

BNB is primarily used to pay for transaction fees on the Binance exchange at a discounted rate.

It powers transactions on Binance Chain and Binance Smart Chain (BSC).

Burn Mechanism:

Binance performs periodic "coin burns," where a portion of BNB tokens is permanently removed from circulation, reducing the total supply to increase its value.

Wide Use Cases:

Paying for goods and services.

Participating in token sales on Binance Launchpad.

Staking on BSC for yield farming and DeFi activities.

Booking travel, such as flights and hotels.

Total Supply:

Initially, 200 million BNB were created, with the supply reducing over time due to coin burns.

Symbol: **BNB