BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, one of the largest and most influential platforms in the crypto industry. Launched in 2017, BNB initially operated on the Ethereum blockchain as an ERC-20 token but later migrated to Binance’s own blockchain, the Binance Chain, and now also powers the BNB Smart Chain (BSC).
Key Uses of BNB
Trading Fee Discounts: BNB holders enjoy reduced fees when trading on Binance.
DeFi and DApps: BNB powers smart contracts and decentralized apps on the BSC network.
Token Burns: Binance regularly conducts BNB burns, reducing supply and potentially increasing its value.
Payments: Many merchants and platforms accept BNB for payments and transactions.
Why BNB Matters
BNB is more than just a utility token; it represents the backbone of an extensive blockchain ecosystem, including DeFi, NFTs, and Web3 innovations. With continuous developments in Binance’s ecosystem, BNB remains a significant player in t$BNB
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