Binance Coin (BNB)
Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange.
It is the third-largest cryptocurrency by market capitalization. Those who use the token as a means of payment for the exchange can trade at a discount.
Binance Coin’s blockchain is also the platform on which Binance’s decentralized exchange operates. The Binance Exchange was founded by Changpeng Zhao and is one of the most widely used exchanges in the world based on trading volumes.
Binance Coin was initially an #ERC-20 token that operated on the Ethereum blockchain. It eventually launched a mainnet and uses a PoS consensus model. On July 22, 2023, Binance Coin had a $37.3 billion market capitalization, with one BNB valued at around $242.55
