Used primarily as a fluorescent probe in biochemical and biophysical research, this compound is especially effective for studying membrane dynamics and protein interactions. Its strong fluorescence and affinity for lipid bilayers make it suitable for imaging cell membranes and tracking membrane-bound processes. It is also employed in assays to monitor binding events with nucleic acids and other biomolecules due to its fluorescence enhancement upon interaction with charged macromolecules. Additionally, it serves as a model compound in spectroscopic studies investigating excited-state behavior and energy transfer in aqueous and biological environments.