$BNB

BNBUSDT
Perp
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694.72
+2.74%

BNB coin, also known as Binance Coin, is the native cryptocurrency of the Binance ecosystem. Launched in July 2017, BNB was initially based on the Ethereum blockchain but later migrated to the Binance Smart Chain (BSC) ¹.

BNB's primary function is to facilitate transactions within the Binance ecosystem, including trading fees, listing fees, and other services. However, its use cases have expanded beyond Binance, with many decentralized applications (dApps) and platforms accepting BNB as a payment method ².

Some of the key features and benefits of BNB include:

- *Fast transactions*: BNB enables fast and secure transactions, with block times of around 3 seconds ².

- *Low fees*: Transaction fees on the Binance Smart Chain are significantly lower compared to other blockchain networks ².

- *Wide acceptance*: BNB is widely accepted across various platforms, including dApps, exchanges, and payment processors ¹.

- *Growing ecosystem*: The Binance ecosystem is continuously expanding, with new projects and partnerships being announced regularly ².

In terms of its market performance, BNB has experienced significant growth, with its market capitalization reaching over $104 billion ¹. Its price has also seen substantial increases, with an all-time high of $793.35 in December 2024 ¹.

Overall, BNB coin has established itself as a prominent player in the cryptocurrency market, with a strong ecosystem and growing adoption.