$BNB BNB (Binance Coin) is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency exchanges in the world. Originally launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB was later migrated to its own blockchain, called BNB Chain (formerly Binance Smart Chain or BSC), in 2020. BNB has various uses within the Binance ecosystem, including for:

1. **Transaction Fees**: Users can use BNB to pay for trading fees on Binance at a discounted rate.

2. **Token Burns**: Binance regularly burns (permanently removes) a portion of BNB tokens to reduce supply and potentially increase scarcity, which can affect the token’s value.

3. **Staking and DeFi**: BNB is used in various decentralized finance (DeFi) applications built on BNB Chain, allowing users to earn rewards, stake tokens, or participate in liquidity pools.

4. **NFTs and Gaming**: BNB is used in the ecosystem of decentralized applications (dApps), particularly in the areas of NFTs (non-fungible tokens) and blockchain gaming.

The popularity of BNB is also closely tied to the rise of decentralized applications (dApps) on BNB Chain, which aims to offer lower fees and faster transactions compared to Ethereum.

Are you interested in learning more about how BNB works or its current use in the market?