Binance Coin ($BNB) is the native cryptocurrency of the Binance exchange, one of the largest and most influential cryptocurrency exchanges in the world. Originally launched as an ERC-20 token on the Ethereum network in 2017, $BNB was later migrated to its own Binance Chain blockchain and subsequently to Binance Smart Chain (BSC), now known as BNB Smart Chain. $BNB has many utilities within the Binance ecosystem and the broader blockchain world. Primarily, it is used for paying trading fees on the Binance exchange, providing traders with discounts. It also serves as payment for services and products within the BNB Chain ecosystem, including decentralized applications (dApps) and games.

$BNB plays a key role in the governance and security of the BNB Smart Chain, where it is used for staking and earning rewards. Its price is influenced by several factors, including the overall trading volume on the Binance exchange, the growth of the BNB Chain ecosystem, the launch of new projects, and token burns, which reduce the total supply of $BNB and theoretically increase its value. Given its wide usage and continuous development of the Binance ecosystem, $BNB maintains a strong market position. Investors and traders monitor the development of its price and ecosystem, as $BNB represents a significant element in the dynamic world of cryptocurrencies.