$BNB

BNB, initially known as Binance Coin, is a cryptocurrency token created and issued by the cryptocurrency exchange Binance.

Key Points:

* Utility Token: BNB primarily functions as a utility token within the Binance ecosystem.

* Trading Fees: It can be used to pay for trading fees on the Binance exchange, often at a discounted rate.

* Binance Chain: BNB is the native token of the Binance Chain, a blockchain platform developed by Binance.

* Decentralized Finance (DeFi): BNB is used in various DeFi applications within the Binance Smart Chain (BSC) ecosystem.

Evolution:

* Started on Ethereum: Initially launched as an ERC-20 token on the Ethereum blockchain.

* Migrated to Binance Chain: Later transitioned to its own blockchain, the Binance Chain, for improved performance and scalability.

Use Cases:

* Trading Fees: Paying for trading fees on the Binance exchange.

* Staking: Earning rewards by staking BNB on the Binance Chain.

* DeFi Applications: Participating in DeFi protocols like lending, borrowing, and yield farming.

* Payments: Used for transactions within the Binance ecosystem.

Disclaimer: This information is for general knowledge and doesn't constitute financial advice. Investing in cryptocurrencies carries significant risks.