BNB (BNB) Price

BNB is the native asset of BNB Chain and the utility token of the Binance exchange, used to pay gas on an EVM-compatible network and to earn trading-fee discounts across Binance's own products.

The story behind BNB

Binance issued BNB in a 2017 token sale as a simple ERC-20 token before migrating it onto its own chain, and in September 2020 launched the EVM-compatible Binance Smart Chain, which drew enormous retail volume during that year's DeFi boom by undercutting Ethereum's fees. Regular quarterly burns have steadily reduced the circulating supply from its original 200 million toward a long-term target, a deliberate scarcity mechanism baked into the token from the start.

What BNB is used for

You would use BNB to pay gas on BNB Chain, to cut your trading fees on Binance itself, and to take part in launchpad subscriptions and token sale allocations that require holding it. It also functions as the base currency for a large ecosystem of decentralised exchanges, lending protocols and memecoins built on top of the chain.

BNB in the market today

BNB is one of the largest cryptocurrencies by market value, but its fortunes are tied unusually closely to Binance's business as a company, not just to activity on BNB Chain itself. That link cuts both ways — it benefits from the exchange's scale, but it also carries a regulatory and reputational exposure that few other major tokens share to the same degree.