$BNB
BNB, originally known as Binance Coin, is the native cryptocurrency of the BNB Chain ecosystem, developed by Binance. It began as an ERC-20 token on Ethereum in 2017 but has since migrated to its own blockchain, the BNB Smart Chain (BSC).
BNB serves multiple crucial functions: it's used to pay transaction fees on Binance Exchange and the BNB Chain, often with discounts. Beyond fees, BNB powers a vast ecosystem of decentralized applications (dApps), DeFi protocols, and Web3 initiatives. It also enables governance rights for holders and is utilized for various services like travel bookings and online payments. Binance also conducts quarterly "burns" of BNB to reduce its total supply, aiming to increase its scarcity and value over time.
