$BNB BNB, originally known as Binance Coin, is the cryptocurrency associated with the Binance ecosystem. Initially launched in July 2017 as an ERC-20 token on the Ethereum blockchain, BNB transitioned to its own blockchain, the BNB Chain, in September 2020. In February 2022, the token was rebranded to "Build and Build" to reflect its expanded utility beyond the Binance exchange.

As of January 25, 2025, BNB is trading at approximately $689.94 USD. The cryptocurrency has a market capitalization of around $99.20 billion USD, with a 24-hour trading volume of about $2.29 billion USD.

BNB serves multiple functions within the Binance ecosystem and beyond. Users can utilize BNB to pay for transaction fees on the Binance exchange, often at discounted rates. Additionally, BNB is used in various applications on the BNB Chain, including decentralized finance (DeFi) platforms, non-fungible token (NFT) marketplaces, and more.

The BNB Chain is designed to support the development of decentralized applications (dApps) and offers features such as high throughput and low transaction fees. Developers are encouraged to build on the BNB Chain through various initiatives, including tutorials, grants, and ecosystem support.

It's important to note that Binance, the company behind BNB, has faced regulatory challenges in various jurisdictions. In November 2023, Binance pleaded guilty in a U.S. federal court to charges including money laundering and sanctions violations, agreeing to pay over $4 billion in fines. These legal issues have had significant implications for the company's operations and its associated cryptocurrency.