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Binance’s tenth burn of over 2.2 million bnb tokens removed almost $40 million worth of bnb from the market You can follow announcements about upcoming bnb burn events on binance’s announcements page. The burn represented “activity across binance spot, margin, and futures exchanges, as well as the various solutions, divisions, and partners that use bnb” for q4 2019.
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Leading cryptocurrency exchange binance has completed its q4 2019 burn of the binance coin (bnb) This bnb burn history table will be updated as more bnb tokens are burned in the coming months and years It was the 10th quarterly token burn the exchange has done since the launch of the bnb in july 2017.
This quarter we will burn 2,528,767 bnb (roughly $32,700,000 usd), up from 2,220,314 bnb last quarter (roughly $30,000,000 usd at the time)
Binance has conducted its 10th quarterly burn, amounting to 2,216,888 bnb and permanently took away about 38.8 million usd worth of bnb out of circulation The exchange has previously stated that it plans to burn 20% of the net profit, so we can estimate the income that the exchange makes. Fellow binancians, in accordance with the binance whitepaper, we have completed our 14th quarterly bnb token burn of 3,619,888 bnb (roughly $165,791,000 usd equivalent). Binance has officially completed another quarterly bnb token burn, eliminating millions of tokens in just one day
While this event is positive news for the binance coin (bnb) community, the price of bnb has yet to show any bullish response to the significant reduction in supply. It will continue to follow the same quarterly burn schedule as planned. As part of their quarterly burn, binance has burned 2.2 million bnb representing 1.1% of total supply, worth over $38 million The $2 million increase from q3 marks the fourth consecutive quarter of growth and brings their total burn amount to nearly $250 million.
