BNB is a cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange. BNB is also the cryptocurrency coin that powers the BNB Chain ecosystem. As one of the most popular utility tokens in the world, BNB benefits users in a variety of applications and use cases.
BNB was launched through an Initial Coin Offering (or ICO) that took place from June 26 to July 3, 2017 - 11 days before the Binance Exchange opened for trading. The price of the coin when it was issued was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although BNB was launched through an ICO, it does not give users any claim to Binance's profits and does not represent an investment in Binance.
With a variety of applications both within the BNB Chain ecosystem and beyond, BNB has a wide range of uses. BNB was originally launched as an ERC-20 token on the Ethereum blockchain. It has now migrated to the main BNB Chain. Although the initial total supply was set at 200 million coins, the supply is gradually reduced due to frequent coin burning. The latest BNB price is updated and available in real-time on Binance.
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