$BNB is the native cryptocurrency of the Binance ecosystem. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later moved to Binance's own blockchain, Binance Chain, and now plays a key role in its operations. It is used to pay for discounted Binance trading fees, participate in token sales, and support decentralized applications on Binance Smart Chain (BSC). This growing use has historically supported BNB's growth in value.