$BNB , or Binance Coin, is a cryptocurrency native to the Binance exchange. Initially an ERC-20 token on Ethereum, it migrated to its own blockchain, BNB Chain. BNB offers various uses within the Binance ecosystem:
* Transaction Fees: Users can pay transaction fees on the Binance exchange using BNB, often at discounted rates.
* Trading: BNB can be traded for other cryptocurrencies on the Binance exchange.
* Ecosystem Development: BNB supports the development of dApps and projects within the Binance ecosystem.
BNB's versatility and its association with one of the world's largest cryptocurrency exchanges have contributed to its popularity and growth.
