$BNB
Binance Coin is a versatile cryptocurrency token with multiple applications. Firstly, it can be used to trade cryptocurrency pairs on Binance DEX, a decentralized exchange that operates on Binance Chain. This makes Binance Coin a significant player in cryptocurrency trading. Furthermore, the token supports crypto staking, where users can lock up their tokens and earn rewards by participating in network security. Binance Coin also provides access to various financial services, including loans and insurance coverage. Finally, the token can be used to fund projects through Initial Coin Offerings (ICOs) and other crowdfunding methods. This demonstrates that BNB is a versatile token with many practical use cases.
Within the Binance ecosystem, BNB is primarily used as a utility token that provides users with discounts when paying their trading fees. Additionally, the fee structure changes based on trading volume (30 days) and account level.