$BNB BNB Coin, also known as Binance Coin, is the native digital currency of the Binance ecosystem. It was launched in 2017 through an initial coin offering (ICO) as an ERC-20 token on the Ethereum blockchain, and later migrated to the Binance blockchain.

## Uses of BNB

- *Reduced Fees*: BNB can be used to pay trading fees on the Binance platform, with a 50% discount in the first year, gradually decreasing thereafter.

- *Investment in Initial Coin Offerings*: BNB can be used to invest in initial coin offerings (IEOs) on the Binance platform.

- *Paying Fees on the BNB Chain*: BNB is used to pay for activity fees on the BNB Chain.

## Information about BNB Price

- *Current Price*: The price of BNB is approximately $850.14, with an increase of 6.45% in one day.

- *Market Capitalization*: The market capitalization of BNB is approximately $118.4 billion.

- *Max Supply*: The maximum supply of BNB is 139.28 million units.

## Future of BNB

BNB continues to evolve, with plans for future improvements and updates. BNB is burned quarterly based on a specific formula, which may affect its price ¹.