BNB (formerly Binance Coin) began as a utility token for the Binance exchange in 2017. Originally created as an ERC-20 token on Ethereum, it later migrated to Binance's own blockchain and has since grown into one of the most valuable and widely used cryptocurrencies in the world.
The History of BNB
Binance launched its ICO (Initial Coin Offering) in July 2017 under the leadership of Changpeng Zhao (CZ). The initial supply was 200 million BNB. Binance committed to burning 50% of the total supply over time based on trading volumes, reducing the circulating supply and increasing scarcity. As of 2026, over 144 million BNB are in circulation.
Key Use Cases for BNB
- Trading Fee Discounts – Pay Binance trading fees in BNB for up to 25% off.
- Gas Fees on BNB Chain – BNB is the native gas token for BNB Smart Chain, powering all transactions.
- DeFi on PancakeSwap – Use BNB to participate in liquidity pools, staking, and yield farming.
- Payments – Accepted by a growing number of merchants worldwide.
- Staking – Earn rewards by staking BNB on Binance Earn or through validators.
- Token Launches – BNB is used to participate in Binance Launchpad token sales.
BNB Chain
BNB Chain (formerly Binance Smart Chain) is a high-performance blockchain compatible with Ethereum's EVM. It processes transactions faster and at lower cost than Ethereum, making it the preferred chain for many DeFi applications and NFT projects. BNB is required for all gas fees on BNB Chain.
BNB Price and Market Cap
BNB consistently ranks among the top five cryptocurrencies by market capitalisation. Its value is supported by the steady growth of the Binance ecosystem, ongoing token burns, and widespread adoption across DeFi. The BNB price reflects both its utility as a gas token and its investment appeal.
BNB is more than an exchange token — it is the foundation of an entire blockchain ecosystem used by millions of people every day.