$BNB BNB, formerly Binance Coin, is the cryptocurrency powering the Binance ecosystem. Initially launched on the Ethereum blockchain, it transitioned to become the native token of the BNB Chain. Its primary function is to pay transaction fees on the Binance exchange, often at a discounted rate. Beyond the exchange, BNB fuels various applications within the BNB Chain, including decentralized finance (DeFi) and gaming. It also finds use in payments for goods and services. A key feature of BNB is its periodic "burning" mechanism, which reduces its total supply, potentially increasing its value. Essentially, BNB acts as a utility token within the large Binance crypto ecosystem.