Binance Coin, Somebody enlighten me.

Every since Binance bought Coinmarketcap for a mind boggling $400 million dollar their coin has been on the rise in price/rank. What is this coin used for besides being a token on their exchange and what’s so great about it? Also, spending such a ridiculous amount of money on a website that a lot of people ignorantly regard as being an objective source of market data, there must be more to it than just wanting to own that site for ad revenue.