Binance Announces $17,000,000 BNB Coin Burn in Q5 Recap

Binance Announces $17,000,000 BNB Coin Burn in Q5 Recap
фото показано с : blokt.com

2018-10-18 20:24

After a full year of operations that followed its initial coin offering (ICO), Binance, the largest cryptocurrency exchange by market volume, announced that it will burn 1,643,985.16 BNB coins in Q5, an amount that equates to $17,000,000.

Reasons Why Less BNB Coins Were Burned on Q5

Binance uses 20 percent of its profits to repurchase and burn BNB coins in a scheduled event that occurs on a quarterly basis. According to the press release, the fewer amount of BNB coins to burn during Q5 was a result of the reduced trading volumes on Binance due to the surrounding stability on the cryptocurrency market during that period. This led to a less volatile market and therefore fewer profits for cryptocurrency exchanges like Binance. Similarly, the BNB coin maintained its price, which also affected the number of tokens for burning.

Binance highlighted that the way quarters are calculated was readjusted recently to align with calendar quarters. Hence, Sept 30 was the last day of Q5, and trading volumes between Oct. 1 and Oct. 15 would not be considered for calculating profits, as well as for the amount of BNB tokens to burn.

Binance as Much More Than a Cryptocurrency Exchange

Binance plans to increase the scarcity and value of the Ethereum-based BNB coin by progressively burning 100 million out of the total 200 million BNB coins that will ever exist. Its creator Changpeng Zhao believes that Binance is more than just a crypto exchange, but on a mission to spread the freedom of money.

In this framework, the company has many activities to demonstrate across the Binance ecosystem, such as Binance Labs and Binance Info. It has established strategic partnerships and acquisitions like Trust Wallet, which has become the official digital wallet of Binance. Furthermore, the Binance Academy was created to spread knowledge about blockchain technology, and TravelbyBit aims to promote the adoption of the BNB coin in airports worldwide.

Lastly, as a strong proponent of using blockchain for social good, Binance has formed the Blockchain Charity Foundation. On top of the existing partnerships with Malta’s President Marie-Louise Coleiro Preca and the United Nations Development Programme, Binance announced earlier this month that it would change its listing fee policy and donate all listing fees to charity. Binance reassured investors, however, that the change on the listing fee policy would only have a minor impact to future BNB coin burns as trading volumes play a bigger factor in its revenues.

Binance Announces $17,000,000 BNB Coin Burn in Q5 Recap was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 656.49 (-0.28%)
Объем 24H $1.153b
Изменеия 24h: -1.75 %, 7d: -8.40 %
Cегодня L: $652.14 - H: $668.43
Капитализация $94.54b Rank 5
Цена в час новости $ 9.7233 (6651.72%)

bnb binance burn coin cryptocurrency coins recap

Источник: blokt.com

bnb binance → Результатов: 126


Что мешает росту Binance Coin (BNB)

Еще с восьмого ноября Binance Coin (BNB) торгуется выше $600, но значимого прорыва совершить так и не может. Из-за этой стагнации многие инвесторы задаются вопросом о том, сможет ли вообще криптовалюта обновить исторический максимум.

2024-11-22 20:54


Binance: BNB Chain DEX Drops 24% In Volume As Mpeppe (MPEPE) Gains BNB Community Support and Momentum

The decentralized exchange (DEX) on Binance’s BNB Chain has recently experienced a significant drop in trading volume, with reports showing a 24% decrease over the past month. As Binance Coin (BNB) Chain’s DEX activity slows, new projects like Mpeppe (MPEPE) are quickly gaining traction among the Binance Coin (BNB) community. Mpeppe (MPEPE), a memecoin with […]

2024-9-7 17:24


Фото:

Binance completes 28th quarterly BNB token burn, billions of coins incinerated

The crypto market eyes new ATHs following Bitcoin’s recent uptick towards $68.5K. Amidst the optimism, exchange Binance unveiled vital updates about altcoin BNB. BNB’s massive token burns The Binance Foundation confirmed that the BNB Chain finalized its 28th quarterly asset burn, which saw the platform destroying tokens worth $971 million (1,643,698.8 BNB coins). BNB Chain […]

2024-7-22 11:30


В Binance создали альянс для поддержки Web3-стартапов

Экосистема BNB Chain и Binance Labs запустили BNB Incubation Alliance, с помощью которого планируют поддерживать Web3-проекты на ранней стадии. Отбирать перспективные проекты для инкубации будут через серию глобальных мероприятий, проводимых совместно с ведущими венчурными фондами и сообществами разработчиков.

2024-6-13 16:00


Фото:

Binance планирует объединить сети BNB

Разработчики Binance объявили о планах по слиянию двух блокчейнов: BNB Beacon Chain (BEP-2) и BNB Smart Chain (BEP-20) в единую сеть. Это решение направлено на упрощение текущей двойной структуры сети и повышение её безопасности.

2024-1-15 16:22


Фото:

BNB valuation curious as trouble mounts for Binance

The native token of the Binance ecosystem, BNB, is trading at a one-year low.  The token is down 30% over the last month as it careens from one crisis to the next. It has come under further pressure this week amid a report published in the Wall Street Journal over claims it is violating Russian […] The post BNB valuation curious as trouble mounts for Binance appeared first on Invezz.

2023-8-24 17:09


Binance провела сжигание около 2 млн монет BNB

Компания Binance провела 24 ежеквартальное сжигание токенов BNB, в результате которого из обращения было выведено 1 991 854 BNB на сумму примерно в $484 млн на момент написания. The 24th quarterly $BNB token burn has been completed through #BNB Auto-Burn.

2023-7-19 11:50


Распродажа криптовалюты от Binance: перспективы токена BNB

Курс BNB в июне 2023 года заметно колеблется. Сначала упал на 27%, а затем вырос на 10%. Инвесторы не знают, что делать со своими накоплениями. А руководство Binance уверяет, что ситуация с BNB под контролем.

2023-6-20 19:48


Binance Coin Price Analysis & Prediction (April 10th) – BNB Remains Weak After a Steady Three-Week Drops, Down by 1.8%

Binance Coin continues to correct lower for three weeks. It saw a substantial loss this week following a rejection in the past month. It is still looking for firm support to foot another bullish. After marking a multi-high at $346 in mid-March, BNB saw a sudden rejection and started to lose momentum. Up till now, […]

2023-4-11 08:40


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Drops Below $100,000: The End Or Beginning Of The Crypto Bull Market?

Bitcoin, the titan of the cryptocurrency world with a market cap hovering around $1. 9 trillion, has experienced a significant downturn, dipping below the psychological threshold of $100,000. This flash dump, occurring over just three days, has left many investors and analysts questioning whether this marks the end of the current bull market or signals a healthy correction within an ongoing bullish trend.

ASIC Targets Binance Australia Over Landmark Case In Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.

UAE’s Bitcoin Holdings Soar To $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

UAE’s Bitcoin Holdings Soar to $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

ASIC Targets Binance Australia Over Groundbreaking Case in Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.