#BinanceTurns8 BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem, one of the world's largest cryptocurrency exchanges. Initially launched as an ERC-20 token on the Ethereum blockchain in 2017, it later migrated to its own blockchain, the BNB Chain (formerly Binance Smart Chain and Binance Chain).

BNB serves multiple utilities within the Binance ecosystem. It can be used to pay for trading fees on the Binance exchange at a discounted rate, power transactions on the BNB Chain, and participate in token sales on Binance Launchpad. Furthermore, BNB is integral to various decentralized applications (dApps) built on the BNB Chain, including DeFi protocols and GameFi projects.

A key feature of BNB is its token burning mechanism. Binance regularly conducts quarterly burns, permanently removing a portion of BNB from circulation to reduce its total supply, which is designed to make the remaining tokens more scarce and potentially increase their value over time. Recently, Binance completed its 32nd quarterly burn, removing over 1.5 million BNB.