*What is BNB?*
BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem. Launched in July 2017 as an ERC-20 token, it has evolved into a utility token powering the BNB Chain ecosystem, supporting various applications and services.
*Key Features:*
- *Tokenomics:* BNB has a deflationary model with a quarterly burn mechanism, aiming to reduce its total supply from 200 million to 100 million tokens.
- *Consensus Mechanism:* BNB Chain uses Proof of Staked Authority (PoSA), combining elements of Proof of Stake (PoS) and Proof of Authority (PoA).
- *Transaction Fees:* BNB can be used to pay for transaction fees on the Binance platform and the BNB Chain, offering discounts of up to 25%.
- *Staking and Governance:* BNB holders can stake their tokens to secure the network, earn rewards, and participate in governance decisions.
*Use Cases:*
- *Transaction Fees:* Pay for trading fees on Binance and transaction fees on the BNB Chain.
- *Staking and Governance:* Participate in network governance and earn rewards.
- *DeFi and DApps:* Used in various DeFi applications, such as lending, borrowing, and yield farming.
- *NFTs and Gaming:* Ideal for minting and trading NFTs, and in-game purchases.
- *Real-World Applications:* Can be used for payments in e-commerce, travel bookings, and entertainment.
*Price and Market Data:*
- *Current Price:* $999.21 USD (subject to change)
- *Market Capitalization:* $139.08 billion USD
- *24-hour Trading Volume:* $2.54 billion USD
- *All-Time High:* $1,080.48 USD (reached on September 21, 2025)
*Ecosystem and Development:*
- *BNB Chain:* A multi-chain framework including BNB Smart Chain (BSC), opBNB, and BNB Greenfield.
- *Decentralized Applications:* Supports thousands of dApps across DeFi, GameFi, and NFTs.
- *Partnerships:* Collaborates with various companies and projects to expand its ecosystem.¹ ²
