$BNB serves multiple purposes, including reducing trading fees on the Binance exchange, powering transactions on Binance Smart Chain (BSC), and being used for staking, yield farming, and decentralized applications (dApps). Over time, its utility has expanded beyond Binance, with some merchants accepting it for payments. Binance also burns a portion of BNB regularly to reduce supply and increase its value. With its growing adoption in DeFi, NFTs, and payments, BNB remains one of the most significant cryptocurrencies in the market.