$BNB Launched in July 2017 via ICO, BNB was created to power the Binance ecosystem—from fee discounts on Binance exchange to gas for BNB Chain transactions . It currently ranks in the top 5 cryptocurrencies, with a market cap near $96 billion and solid 24h volume of ~$2 billion . BNB features deflationary mechanics through quarterly token burns and an auto‑burn tied to network usage . Besides utility, it's increasingly used in DeFi, staking, payments, and Binance Launchpad token sales. With growing ecosystem depth and built‑in scarcity, BNB remains a cornerstone of both Binance and blockchain development.