BNB (formerly Binance Coin) is the native token of the BNB Chain ecosystem, originally launched by Binance. Its value is influenced by market demand, utility, and broader crypto trends.
The cost of BNB fluctuates daily based on market conditions. Factors impacting its price include:
Exchange Usage: BNB is widely used to pay trading fees on Binance with discounts, boosting demand.
DeFi & Web3: BNB powers a growing number of decentralized apps and platforms on BNB Chain.
Token Burns: Binance conducts quarterly BNB burns to reduce supply, aiming to support long-term price stability.
Market Sentiment: Like other cryptos, BNB reacts to investor sentiment, Bitcoin trends, and global news.
Before investing in BNB, analyze current market charts, monitor resistance/support levels, and understand its ecosystem utility.
