$BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem. It was originally launched as an ERC-20 token on Ethereum but later migrated to Binance’s own blockchain, BNB Chain (formerly Binance Smart Chain & Binance Chain).
Key Features of BNB:
Used for trading fee discounts on Binance Exchange.
Powers the BNB Chain, supporting smart contracts and decentralized applications (DApps).
Burn Mechanism: Binance periodically burns BNB to reduce supply and increase scarcity.
Payment Utility: Used for online payments, travel bookings, and more.
Staking & DeFi: BNB is widely used in decentralized finance (DeFi) applications.
