BNB

BNB is the native utility token of the BNB Chain ecosystem and, historically, the token behind the Binance exchange. Ranked fourth by market capitalization, it powers transactions across a multi-chain network and gives holders discounts and access to services. It began life in 2017 as an Ethereum-based token before migrating to its own chain.

What is BNB?

BNB functions as the fuel of the BNB Chain, a network that combines a smart contract platform, a Layer 2 scaling solution and a decentralized storage layer into one settlement environment. Users spend BNB to pay gas and deploy contracts, and Binance customers receive tiered trading-fee discounts for holding it. Its value is tied closely to activity across that ecosystem.

How does BNB work?

BNB Chain runs on Proof of Staked Authority, a consensus model in which a rotating set of 21 active validators, known as the Cabinet, produce blocks about every three seconds. Validators are elected daily based on how much BNB is staked or delegated to them, and the network uses fast finality plus slashing penalties to deter misbehavior. The chain stays compatible with the Ethereum Virtual Machine, so Ethereum developers can port applications easily.

BNB tokenomics and supply

At its 2017 launch the project sold 50% of a 200 million token supply to the public, allocated 40% to the founding team and 10% to angel investors. To tighten supply over time, BNB uses a dual-burn strategy: it destroys a portion of transaction fees in real time and conducts periodic buyback-and-burns. Circulating supply now sits near 134.8 million and continues to shrink toward a smaller long-term total.

• Circulating supply: about 134.8 million BNB
• Original maximum supply: 200 million BNB
• Dual-burn model reduces supply over time
• All-time high near $1,369.99; all-time low around $0.04

What is BNB used for?

BNB pays network gas, unlocks fee discounts on Binance, secures the chain through staking and enables governance voting on technical and economic changes. Across BNB Chain it also serves as a base currency for DeFi protocols, launchpads and countless applications, making it one of the most-used exchange-linked tokens in the market.

Where to buy BNB

BNB is most liquid on Binance but is listed across many venues; our best crypto exchanges ranking helps compare options. To hold and stake BNB yourself, an EVM-compatible wallet from our best crypto wallets guide will connect directly to BNB Chain applications.

Is BNB a good investment?

BNB's utility and deflationary burns give it clear demand drivers, but it is closely tied to the fortunes and regulatory standing of a single company, and its validator set is relatively concentrated. Prices are volatile and exchange-linked tokens carry added regulatory risk. This is not financial advice; weigh those factors carefully before buying.