$BNB BNB (Binance Coin) is the native token issued by the Binance exchange, initially based on the Ethereum ERC-20 standard, and later migrated to its own BSC (Binance Smart Chain). BNB is primarily used for paying transaction fees, participating in Launchpad projects, DeFi applications, and NFT markets, among others, demonstrating wide applicability. Binance regularly repurchases and burns BNB to maintain a deflationary mechanism. Despite rising regulatory risks, BNB still holds a place among mainstream crypto assets due to its ecological advantages and user base, making it one of the important barometers for observing the crypto market.