$BNB Market Overview
$BNB (Binance Coin) is the native cryptocurrency of Binance, one of the world's leading cryptocurrency exchanges. Initially launched as an ERC-20 token on the Ethereum blockchain, $BNB later transitioned to Binance Chain and Binance Smart Chain (now known as BNB Chain). It plays a central role in the Binance ecosystem, offering utility such as discounted trading fees, participation in token launches, and payments for goods and services.
Key Features of BNB:
1. *Utility*: Used for transaction fee discounts, staking, and governance on BNB Chain.
2. *Ecosystem*: Powers decentralized applications (dApps) and smart contracts on BNB Chain.
3. *Token Burns*: Binance conducts periodic BNB burns to reduce supply, aiming to increase scarcity and value over time.
