Binance coin (BNB) is a crypto asset created by Binance, one of the largest crypto exchange platforms in the world. In the Binance ecosystem, BNB is used as a utility token to get discounts when paying trading fees on the Binance platform.
The Binance network itself is divided into two, namely Binance Chain (BC) and BNB Smart Chain (BSC). Now, the two networks are combined under one name, namely BNB Chain. BNB Chain performs various functions including operating Binance's CEX and DEX and also running all smart contract transactions on the BSC DeFi application.
Investing in BNB means believing in Binance's strength in the crypto world. Since the beginning of 2022, the price of BNB has been relatively strong when compared to various other altcoins which have fallen by more than 70%.