Binance Coin (BNB) is a cryptocurrency issued by the Binance exchange and trades with the BNB symbol. It was created in 2017 as a utility token for discounted trading fees and has since expanded to various applications, including payments for transaction fees, travel bookings, entertainment, online services, and financial services. BNB has a market cap of over $87 billion, ranking behind Bitcoin, Ethereum, and USD Tether.

Binance was launched during an initial coin offering (ICO) in July 2017 with a strict maximum of 200 million BNB tokens. The funds raised were used for branding and marketing, while around one-third were used to build the Binance platform and perform necessary upgrades. As of May 2024, BNB was the fourth-largest cryptocurrency by market capitalization.

BNB is used for on-chain transactions, purchasing goods and services at participating vendors, and investing in certain ICOs listed through Binance’s Launchpad program. It is best to speak with a financial advisor to determine if BNB is a good buy for your portfolio. It is possible that BNB will reach $10,000, but it is equally likely to fall to zero.