Live BNB (BNB) price index, charts, marketcap, and news. Click here for the latest BNB market trends from The Block.
BNB is the native token of the BNB Chain, a blockchain network closely related to Binance, one of the world’s largest crypto exchanges.BNB is a utility token in the cryptocurrency market that serves a specific purpose within a blockchain ecosystem. Binance offers a discount on trading fees for users who elect to pay in BNB. Binance has expanded its utility to include participation in token sales and ICOs on the Binance Launchpad.
This process effectively reduces the total supply of BNB in circulation. The buyback and burn program holds significant implications for BNB. By decreasing the supply of BNB while maintaining or even increasing demand, the program creates scarcity and in the past has helped to drive up the value of the cryptocurrency.The creation of BNB can be traced back to the inception of Binance itself.
February 17, 2020: Binance announces the launch of Binance Cloud, a platform that allows users to set up their own cryptocurrency exchanges using Binance's infrastructure.
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