$BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. Initially launched in 2017 as an ERC-20 token on Ethereum, it later migrated to Binance’s own blockchain, Binance Chain and Binance Smart Chain (BSC).

Key Features of BNB:

Utility Token: BNB is used to pay for trading fees on Binance, offering discounts to users.

Transaction Fees & Gas: It is the primary token for transactions on Binance Smart Chain (BSC).

Staking & Yield Farming: BNB holders can stake their tokens in DeFi protocols and earn rewards.

Token Burn Mechanism: Binance conducts periodic BNB burns to reduce supply and increase scarcity.

Cross-Chain Compatibility: Supports Binance Chain, BSC, and multiple other blockchains.

BNB Use Cases:

Trading Fee Discounts on Binance

Participation in Binance Launchpad (new token sales)

Smart Contract Deployment on Binance Smart Chain

Payments & Merchant Adoption (used by businesses worldwide)

NFT Marketplace Transactions on Binance NFT

BNB Market Performance:

BNB has consistently been among the top cryptocurrencies by market capitalization, largely due to Binance's dominance in the crypto industry.