Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency trading platforms in the world. Launched in 2017, BNB was initially created as a utility token to pay for trading fees on the exchange at a discounted rate. Over time, its use has expanded to include various applications within the Binance ecosystem, such as transaction fees on the Binance Smart Chain and participation in token sales on the Binance Launchpad. BNB operates on the Ethereum blockchain but has since migrated to its own blockchain, the Binance Chain. The total supply of BNB is capped at 200 million tokens, with a portion being periodically burned to reduce supply and potentially increase value. BNB is widely used for trading, investing, and various services within the Binance platform, making it a significant player in the cryptocurrency market.