BNB

BNB is the cryptocurrency issued by Binance and used today as the native asset of the BNB Chain ecosystem. The token was initially distributed on Ethereum and later moved to Binance's own blockchain. The ecosystem covers BNB Smart Chain, which is compatible with the Ethereum Virtual Machine, the layer-two network opBNB and the decentralized storage network BNB Greenfield.

Transaction fees (gas) on BNB Smart Chain are paid in BNB. The network uses a consensus method that combines proof of stake with an authorized validator model; validators and the users who delegate tokens to them stake BNB. The token also has uses on the Binance exchange, such as trading fee discounts and participation in new token distribution campaigns. On the supply side, periodic automatic burns and the immediate burning of part of the network fees are designed to reduce the amount in circulation.

The price of BNB depends on factors such as the activities and legal proceedings of the Binance exchange, application and transaction activity on BNB Chain, the effect of the burn mechanism on supply and regulations concerning exchange tokens. Lzzo.com converts the BNB price on Binance's BNB/USDT pair into dollars at Coinbase Exchange's USDT/USD rate and shows this series on the chart.