$BNB Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem. Launched in 2017, it was initially an ERC-20 token but later migrated to Binance Chain. BNB is used for various purposes, including paying trading fees on Binance with discounts, covering transaction fees on Binance Chain and Binance Smart Chain (BSC), and participating in token sales. Its ecosystem has expanded significantly through Binance Smart Chain, a blockchain platform supporting decentralized applications (dApps) with low fees and fast transactions. BNB features a deflationary mechanism where Binance regularly burns tokens to reduce supply, aiming to increase its value over time.