$BNB
BNB (Binance Coin) is the native cryptocurrency of the Binance exchange, one of the largest and most popular crypto platforms globally. Initially launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB was later migrated to Binance's own blockchain, Binance Chain, after the exchange launched it in 2019. BNB is used for a variety of functions within the Binance ecosystem, making it a versatile asset.
One of the main use cases for BNB is to pay for trading fees on Binance. Users who pay with BNB are granted significant discounts, making it an attractive choice for frequent traders. Additionally, BNB can be used for token sales on Binance Launchpad, staking, and even purchasing goods and services through various third-party partners.
The Binance team has also committed to regularly burning (destroying) a portion of the total supply of BNB to reduce inflation and maintain value over time. This burn mechanism, along with BNB's widespread utility across Binance's platforms, has helped boost its popularity among traders and investors alike.
BNB has proven to be a valuable asset for Binance users, with its utility, demand, and deflationary model contributing to its growth in the crypto space.
