Binance Completes 11th BNB Burn Erasing More Than 10% of Total Supply

Binance Completes 11th BNB Burn Erasing More Than 10% of Total Supply
фото показано с : zycrypto.com

2020-4-20 19:36

According to Binance’s official announcement, the exchange was able to burn 3,373,998 BNB in its 11th quarterly burn. So far, this has been the biggest BNB burn, followed closely by its 4th burn at 2.5 million BNB coins.

Binance burns BNB tokens as a way to pay holders instead of handing out dividends. In essence, burning tokens should drive their price up eventually. Additionally, it also means that other investors might be interested in BNB since their supply gets smaller over time which means it’s a good long-term investment.

Binance has stated that BNB burning events will happen every quarter until 50% of the total BNB is destroyed. Each burning event is calculated based on the number of trades performed on Binance within the last 3-month period. Binance has been burning BNB tokens since October 2017.

More Trading Volume in Q1 For Binance

As mentioned above, Binance burns more BNB tokens if there is more trading volume on the Exchange. Despite the recent Coronavirus pandemic, Binance still managed to see higher trading volumes and user visits. According to Binance, the exchange is seeing 5x more traffic.

“While economic activity has slowed in many non-essential sectors and bitcoin price wasn’t able to escape the drop in tandem with stock prices, we have seen a sharp rise in crypto activity” – Binance

Binance notes that usually when Bitcoin price plummets, its trading volume also suffers, however, this time, Bitcoin has seen a lot more trading volume after the crash and has managed to almost recover fully in less than 1 month. 

Binance New Partnerships And Updates Driving BNB Price Up

Not only did Binance burn BNB tokens but they also announced the purchase of CoinMarketCap, ‘the landing page of crypto’. Recently, Binance also announced the launch of Binance Smart Chain which intends to create a smart chain that allows projects in the Binance ecosystem to build decentralized applications compatible with Ethereum and based on EVM.

Binance also launched its Korean crypto exchange based on Binance Cloud to tap into the Korean crypto market. It is not a surprise that Binance continues being the most popular crypto exchange in the world considering its pursuits.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Blockburn (BURN) на Currencies.ru

$ 3.23E-5 (+1.29%)
Объем 24H $0
Изменеия 24h: 1.86 %, 7d: -5.32 %
Cегодня L: $3.18E-5 - H: $3.23E-5
Капитализация $63.865k Rank 2355
Цена в час новости $ 7.82E-5 (-58.7%)

burn bnb binance 11th far quarterly 4th

Источник: zycrypto.com

burn bnb → Результатов: 55


Binance сожгла 2.2 млн токенов BNB на сумму почти в $39 млн

Биткоин-биржа Binance завершила десятое ежеквартальное сжигание токенов BNB, выведя из оборота 2 216 888 монет. Это составило около $38,8 млн. 10th $BNB Burn | Insights and Expectations for the Future of BNB "This is the 2nd biggest burn in USD terms and the 3rd highest burn in terms of BNB. Moreover, the USD value of […]

2020-1-18 16:47


Binance сожгла на $39 млн токенов BNB по итогам IV квартала

Биткоин-биржа Binance завершила десятое ежеквартальное сжигание токенов BNB, выведя из оборота 2 216 888 монет. Это составило около $38,8 млн. 10th $BNB Burn | Insights and Expectations for the Future of BNB «This is the 2nd biggest burn in USD terms and the 3rd highest burn in terms of BNB. Moreover, the USD value of […]

2020-1-18 15:50


Binance получила в третьем квартале $186 млн прибыли

Криптовалютная биржа Binance завершила девятое ежеквартальное сжигание токенов BNB. Из оборота выведено 2 061 888 BNB общей стоимостью $36,7 млн. 9th $BNB Burn: Q3 2019 Recap — @cz_binance » I know for a fact that the long-term winners are the people who build products that other people use, and we intend to continue to do […]

2019-10-17 12:17


Binance CEO Hosts Fifth Live AMA On Company’s Latest Objectives For Futures And Smart Contracts

Binance head CZ sat down for his latest edition of his famous AMA where he addressed numerous rumors and questions around Binance. #Binance 2nd Anniversary AMA With @cz_binance: Highlights During his 5th AMA, CZ addressed extending the 25% fee discount, #Binance's commitment of $BNB allocations to the token burn, & other important topics across the […]

2019-7-13 19:24


Binance to Burn Over $2.5 Billion of Its BNB Stash. Guess Who Benefits?

Binance yesterday completed its eighth quarterly "burn" of BNB. With this move, the exchange follows its commitment to reduce the total token supply periodically. However, along with the obligatory token burn, Binance CEO Changpeng "CZ" Zhao announced that his company would relinquish its entire BNB allocation as part of its efforts to promote the growth […] The post Binance to Burn Over $2.

2019-7-13 04:30


Сегодня состоялось восьмое ежеквартальное сжигание токена Binance Coin

Криптовалюная биржа Binance в эту пятницу осуществила восьмое ежеквартальное сжигание своего токена Binance Coin (BNB). 8th #Binance Coin Burn: From the Team $BNB Allocationhttps://t. co/gJrEj4axyc pic.

2019-7-13 11:52


Биткоин-биржа Binance сожгла токенов BNB на $23,8 млн и анонсировала тестирование фьючерсного рынка

Ведущая по объемам торгов криптовалютная биржа Binance сожгла 808 888 токенов Binance Coin (BNB) на общую сумму в $23,838 млн. 8th #Binance Coin Burn: From the Team $BNB Allocationhttps://t. co/gJrEj4axyc pic.

2019-7-12 11:24


Биржа Binance провела еще одну операцию по сжиганию токенов BNB

Криптовалютная биржа Binance провела седьмую по счету процедуру сжигания токенов BNB. With #Binance's 7th $BNB burn complete, @cz_binance takes a look back on the quarter and shares his thoughts on the road ahead.

2019-4-16 11:37


Фото:

Binance Burns More Than 1.6 Million BNB Coins But Price Drops

The world’s largest cryptocurrency exchange by volume Binance had completed its 5th scheduled token burn. The price has reacted negatively so far, however, despite the reduction in BNB supply. 1,643,986 Binance Coins (BNB) Destroyed In an official release dated October 17, Binance announced that it has successfully completed its 5th quarter token burn, as per its whitepaper.

2018-10-18 02:00


Фото:

Q3 2018: Binance Rakes In $85 Million, Burns 1.6 Million BNB

Binance Torches $17 Million In BNB For 5th Quarterly Burn When Binance’s whitepaper was first released in early-2017, many investors were immediately drawn to the startup’s proposed quarterly buyback policy, in which Binance would allocate 20% of its profits to buy back its in-house digital asset (BNB) at market values in an apparent bid to please investors.

2018-10-17 10:19


Фото:

Binance and Kucoin

International, multi-language cryptocurrency exchange behemoth Binance has officially announced the fourth quarterly coin burn of its in-house Binance Coin token (BNB). @binance is doing a final tally on the numbers, and will announce our 4th quarterly burn in the next day or so, and finish the burn within a couple days after that. Binance’s last

2018-7-16 20:54


Фото:

Binance and KuCoin Commence Quarterly Burns of BNB and KCS Tokens

International, multi-language cryptocurrency exchange behemoth Binance has officially announced the fourth quarterly coin burn of its in-house Binance Coin token (BNB).   The announcement comes via Binance’s founder and CEO, Changpeng Zhao, on Twitter — where the business executive wrote: @binance is doing a final tally on the numbers, and will announce our 4th quarterly burn in the next day or so, and finish the burn within a couple days after that.

2018-7-16 16:00


дальше еще 6 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Haven Protocol Token (XHV) crashes after mint exploit

Haven Protocol suffered a mint exploit, with over 500 million XHV tokens minted illicitly, The hack has sent the price of the XHV token down by over 60%. Hacker(s) exploited a vulnerability in the range proof validation code, introduced during the Haven 3.

GRVT becomes world’s first regulated DEX after licensing in Bermuda

GRVT has secured Bermuda’s Class M license, becoming the first regulated DEX globally. GRVT combines 600,000 TPS with compliance, aiming to be the “Goldman Sachs on blockchain. ” GRVT plans global expansion, aligning with MiCA and ADGM for broader regulatory approval.