Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, one of the world’s largest cryptocurrency exchanges. Launched in 2017, BNB was initially created to facilitate discounted trading fees on the Binance platform. Over time, its utility expanded to include payments, staking, and participation in decentralized finance (DeFi) applications within the Binance Smart Chain (BSC), now known as BNB Chain. BNB operates on a deflationary model, with periodic coin burns reducing its total supply, aiming to increase scarcity and value. Its widespread adoption and integration into various services make it a prominent altcoin in the crypto market.$BNB