$BNB A cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange.

Binance spends a portion of its revenue each quarter to buy back and burn Binance Coins, effectively eliminating them. Binance has conducted quarterly burns continuously since 2017.

Binance will continue to burn BNB coins each quarter until it has purchased and destroyed 100 million Binance Coins, or half of its original maximum supply. The process decreases the supply of Binance Coin and affects its rarity, which can potentially impact the asset's value.

The use of Binance Coin is in line with Binance's growth. The asset initially began as a vehicle to raise funds for the Binance exchange.

Binance quickly gained significant traction as a cryptocurrency exchange after its launch in 2017. Binance transitioned from being an exchange platform to becoming more of an ecosystem under the Binance brand umbrella.