$BNB formerly known as Binance Coin, is the native cryptocurrency of the BNB Chain ecosystem, which includes the BNB Beacon Chain and BNB Smart Chain. Launched by Binance in 2017, BNB was initially created as a utility token for discounted trading fees on the Binance exchange. Over time, its use cases have expanded significantly, including paying transaction fees, participating in token sales, and more. BNB also powers the BNB Smart Chain, supporting decentralized applications and smart contracts. With a capped supply and periodic coin burns, BNB has gained popularity and plays a vital role in the crypto space.