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For our 14th quarterly bnb burn (october to december 2020), a total of 3,619,888 bnb have been burned, equivalent to $165,791,000 usd worth of tokens Fellow binancians, in accordance with the binance whitepaper, we have co. Binance ceo cz also shared a new plan to accelerate bnb burns, as well as his thoughts on crypto’s progress so far this year.
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By removing $165.8 million worth of bnb from circulation, binance not only strengthens its token’s value but also demonstrates its dedication to innovation and transparency. The latest quarterly burn includes the actual burning of 2,253,021 bnb, plus an additional 867 bnb that was effectively burned via the pioneer burn program 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. Outlined in the original binance coin whitepaper, the company pledged to burn bnb tokens equal to 20% of its quarterly profits With bnb tokens valued at $390 million burned this quarter, binance should have made close to $2 billion in profit since april. Crypto exchange binance said on monday that it has burned over $450 million worth of bnb tokens as part of a planned token burn
Just over 2.1 million bnb tokens were burned by. In addition to holding coin burns, the binance team also releases quarterly reports that share key insights into exchange activity and profitability These reports provide bnb holders visibility into metrics that impact burning and the overall binance ecosystem. Binance burns 200 million bnb in its 21st quarterly burn
The burn is impressive, considering that a bridge linking binance smart chain and binance beacon chain was recently hacked, losing investors $100m.
