BNB token is a digital asset native to a cryptocurrency exchange Binance, a platform for buying, selling, and exchanging cryptocurrencies. BNB is integral to the exchange ecosystem and participates in almost all transactions.
BNB has a $36.6 billion market cap. It is used to pay fees on the BNB Chain, issue new tokens, send or cancel orders, and transfer assets. Also, BNB has additional use cases such as fee discounts, payment assets on third-party services, participation rights, and transacting currency on Binance Launchpad. BNB has a burn mechanism for the token supply and is implemented every three months. Burns will continue until the number of tokens reaches 100 million.
Of course, the bear market could not but affect BNB as well. According to Messari, Binance’s market cap declined (-50.5%) by this period. However, the price-to-sales (P/S) ratio did not change, and the price ratio relative to revenue grew slightly from 123 to 127. This fact proves that BNB Smart Chain’s token is one of the most resilient in times of crisis. If you want to trade BNB, use Sema bots in the app.