$BNB

BNB, originally known as Binance Coin, is the native cryptocurrency of the BNB Chain ecosystem. Launched in 2017 by Binance, it initially operated on the Ethereum blockchain as an ERC-20 token before migrating to Binance's own blockchain.

BNB serves multiple purposes within the BNB Chain ecosystem:

Transaction Fees: Users can pay for transactions on Binance.com, Binance DEX, and BNB Chain using BNB, often receiving discounts as an incentive.

Participation in Governance: BNB holders can participate in the governance of the BNB Chain ecosystem, influencing decisions related to its development and future direction.

Payment for Services: BNB is accepted by various merchants and service providers, allowing users to pay for goods and services both within and outside the BNB Chain ecosystem.

Investment Opportunities: Several platforms allow investors to use BNB to invest in stocks, ETFs, and other assets, expanding its utility beyond the BNB Chain ecosystem.

Additionally, BNB undergoes a burn mechanism where a portion of the tokens is periodically bought back and permanently destroyed to reduce the total supply, aiming to increase scarcity and potentially enhance value over time.

As of December 27, 2024, BNB is trading at approximately $690.60 USD.