# MileiMemeCoinControversyBNB is a cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange. BNB is also the cryptocurrency that powers the BNB Chain ecosystem. As one of the most popular utility tokens in the world, BNB is useful in a wide range of applications and use cases.

BNB was launched through an initial coin offering (or ICO) that took place between June 26 and July 3, 2017 - 11 days before the Binance exchange opened for trading. The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although BNB was launched through an ICO, it does not give users rights to Binance’s profits and does not represent an investment in Binance.

With diverse applications both within the BNB Chain ecosystem and beyond, BNB serves a wide range of functions. Originally launched as an ERC-20 token on the Ethereum blockchain, BNB has now migrated to the main BNB Chain. While the initial total supply was set at 200 million coins, the supply is gradually decreasing due to frequent coin burns. The current price of BNB is updated and available in real time on Binance.