Brothers, hello everyone! Today let's talk about Binance's platform token - BNB (Binance Coin).
BNB was first issued by the Binance exchange in 2017, mainly to provide discounts on transaction fees when trading on the platform. Paying transaction fees with BNB can save a lot of money; initially, the discount was as high as 50%. Although it has been adjusted now, holding BNB is still super cost-effective. Gradually, BNB has become not only the exchange's "membership card" but also the core fuel of the entire BNB Chain ecosystem.
Currently, BNB Chain is extremely popular, including BNB Smart Chain (formerly known as BSC), which is fast and has low fees. Countless DeFi projects, GameFi, NFTs, and more are running on it. Using BNB to pay gas fees also allows for staking to earn returns or participating in governance voting. The ecosystem is growing larger, and the TVL (Total Value Locked) is stable, making daily trading, lending, and gaming reliant on it.
Additionally, Binance buys back BNB each quarter with profits and then burns them, gradually reducing the supply. This deflationary mechanism makes BNB look quite resilient in the long run. The current price is hovering around $850, with a market cap firmly in the top five and a circulating supply of about 137 million coins.
In short, BNB is not just a trading tool; it is the lifeblood of the Binance ecosystem, and basically, every brother using Binance has a little. If held for the long term, with ecosystem expansion and the token burn mechanism, the potential is quite large, so everyone can pay attention to it!