BNB is a cryptocurrency utilized primarily to trade and pay fees on the Binance cryptocurrency exchange, as well as to power the BNB Chain ecosystem. Recognized globally as one of the most popular utility tokens, BNB offers a broad spectrum of applications and use cases.
BNB was introduced through an Initial Coin Offering (ICO) from June 26 to July 3, 2017—just 11 days before Binance began operations. The ICO pricing was set at 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. While BNB was initiated via an ICO, it does not grant holders a claim on Binance’s profits nor does it represent an investment in Binance.
Originally issued as an ERC-20 token on the Ethereum blockchain, BNB has since transitioned to its dedicated BNB Chain. The initial total supply was 200 million coins, which is being progressively reduced through systematic coin burns. The current price of BNB is continuously updated and accessible in real-time on Binance.
