$BNB BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem, one of the world's largest cryptocurrency exchanges. Initially launched as an ERC-20 token on the Ethereum network, BNB later migrated to its own blockchain, the BNB Chain (formerly Binance Smart Chain and Binance Chain).

BNB serves multiple utilities within the ecosystem, primarily offering users discounts on trading fees on the Binance exchange. Beyond this, it's crucial for powering transactions and participating in the decentralized applications (dApps) built on the BNB Chain, where it's used for gas fees.

Recent developments show a significant institutional interest in BNB, with companies like CEA Industries and Windtree Therapeutics aiming to establish large, publicly listed BNB treasury vehicles. This move, coupled with continuous infrastructure improvements like reduced block times on BNB Chain, highlights BNB's growing role and potential for broader institutional adoption, pushing its value and utility.