$BNB Binance Coin (BNB) is experiencing notable momentum in the cryptocurrency market, currently priced at approximately **$637.38**. As the native token of the Binance exchange, BNB serves multiple purposes, including trading fee discounts and participation in token sales on Binance Launchpad.

Originally launched as an ERC-20 token in 2017, BNB has since migrated to its own blockchain, the Binance Smart Chain. This transition has enabled it to support smart contracts and decentralized applications. A unique feature of BNB is its **buyback and burn mechanism**, where Binance uses 20% of its profits to repurchase and permanently destroy BNB tokens, reducing supply and potentially increasing value over time.

With a market cap exceeding **$91 billion**, BNB remains one of the leading utility tokens in the crypto space, attracting both retail and institutional investors. Its diverse applications within the Binance ecosystem continue to drive interest and adoption.