$BNB $BNB is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency exchanges in the world. Initially launched as an ERC-20 token on the Ethereum blockchain, it later migrated to Binance's own blockchain, Binance Chain. $BNB is used for various purposes, including trading fee discounts on the Binance platform, participating in token sales on Binance Launchpad, and making payments for goods and services. The token has a deflationary model, where Binance periodically burns a portion of $BNB, reducing its supply over time. This can potentially increase its value as demand grows.