$BNB

Understanding BNB: Binance’s Native Cryptocurrency

BNB, or Binance Coin, is a cryptocurrency created by Binance, one of the world's largest cryptocurrency exchanges. Launched in 2017, BNB originally operated on the Ethereum blockchain as an ERC-20 token before migrating to Binance's own blockchain, the Binance Chain, in 2019.

BNB serves multiple functions within the Binance ecosystem. Initially, it was used to pay for trading fees on the Binance exchange, offering users discounts. Over time, its use cases have expanded to include transaction fees on Binance Smart Chain (BSC), participation in token sales on Binance Launchpad, and even payments for goods and services through various third-party partnerships.

The total supply of BNB is capped at 200 million tokens. Binance periodically conducts "burns" — a process of permanently removing BNB from circulation — to reduce supply and potentially increase value.

BNB has grown beyond a utility token into one of the top cryptocurrencies by market capitalization. Its popularity is driven by the strength of the Binance ecosystem, increasing adoption of BSC for decentralized applications (dApps), and strong community support.