BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem. Initially launched on the Ethereum blockchain, it later migrated to Binance's own Binance Chain and then the Binance Smart Chain (now BNB Chain). BNB serves multiple purposes, including paying transaction fees on the Binance exchange at a discount, participating in token sales on Binance Launchpad, and powering applications within the BNB Chain ecosystem. Its value fluctuates based on market demand, Binance's performance, and the broader cryptocurrency landscape. BNB also features a mechanism where Binance regularly burns tokens, reducing supply and potentially increasing its value.
