The cryptocurrency BNB ($BNB ), originally called Binance Coin, is the native token of Binance, one of the largest cryptocurrency exchanges in the world. Launched in 2017, BNB has evolved significantly since then, becoming one of the most important assets in the crypto ecosystem.
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🪙 What is $BNB
BNB is a utility token with multiple functions inside and outside of Binance:
Means of payment for fees on Binance (with discount).
Governance token on the BNB Chain.
Currency for DeFi applications, games, NFTs, and other Web3 services.
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🔗 BNB Chain: the BNB's own network
BNB has ceased to be just an ERC-20 token (Ethereum) and now operates on the BNB Chain, composed of:
1. BNB Beacon Chain (formerly Binance Chain) – focuses on governance and voting.
2. BNB Smart Chain (BSC) – compatible with Ethereum (EVM), used for smart contracts, DApps, and DeFi.
This structure allows for scalability, low transaction costs, and support for thousands of Web3 applications.
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⚙️ Main uses of BNB
Discounts on trading fees on Binance.
Participation in Binance's Launchpad (early access to new tokens).
Payment of network fees on the BNB Chain.
Staking and yield farming on DeFi platforms.
Purchase of products/services (including physical ones) at companies that accept BNB.
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🔥 Token burning
Binance periodically burns BNB to reduce the total supply and increase the token's value. There are two types of burns:
Automatic quarterly burn – based on the price of BNB and the number of blocks generated.
Real-time burn with gas fees on the BNB Chain.
Goal: reduce the total supply from 200 million to 100 million BNB.
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📊 Tokenomics (current approximate data)
Maximum supply: 200 million
Circulating supply: ~147 million
Current price: around $707
Market cap: over $100 billion
Ranking: #4 among all cryptocurrencies (behind $BTC , $ETH , and USDT)
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📈 History and performance
Initial price (2017): around $0.10
All-time high (ATH): $686 in May 2021
