$BNB BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, originally launched as an ERC-20 token on the Ethereum blockchain in 2017. It was later migrated to the Binance Chain, a blockchain developed by Binance, after its launch. BNB serves multiple purposes within the Binance platform, offering users various benefits such as trading fee discounts, participation in token sales on Binance Launchpad, and staking rewards.

One of the key features of BNB is its utility in reducing transaction fees on Binance. Users who hold and use BNB for transactions receive a discount, which can be particularly beneficial for active traders. Binance periodically conducts token burns, a process where a portion of the total BNB supply is permanently destroyed, reducing its circulation and potentially increasing its value over time.