BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online. It was originally issued as an ERC-20 token running on the Ethereum network, with a total supply capped at 200 million coins, and 100 million BNBs offered in the ICO. However, the ERC-20 BNB coins were swapped with BEP2 BNB on a 1:1 ratio in April 2019 with the launch of the Binance Chain mainnet, and are now no longer hosted on Ethereum. BNB can be used as a payment method, a utility token to pay for fees on the Binance exchange and for participation in token sales on the Binance launchpad. BNB also powers the Binance DEX (decentralized exchange).
Riding the coattails of the Coinbase IPO, Binance has made incredible gains over the past three months
