Binance Confirms $32 Million BNB Coin Burn

[rosyantony]

The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.

https://coinpedia.org/news/binance-ceo-update-coin-burn/

[overst]

Actually coin burning is like giving coin as dividend. So this is really good news for the investors. Such burning will increase the reputation of the company as they are burning a huge number of coins.

[goldencrypto9]

Well, for starters, the news seems authentic and the twitter post has indeed been tweeted from the CEO's official account. Now we need to wait and see for the figures of the burns. It has been stated that the company is moving in an upward trend, which is a good thing.

[mairespleet]

Coin Burn is necessary to keep the demand level up with the supply level on desirable terms. Therefore, it always a good initiative to do Coin Burn, atleast once yearly.

[dsdsdndn]

The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.

https://coinpedia.org/news/binance-ceo-update-coin-burn/

Good news, I hold some BNB, and I hope it will increase the value, so I can take profits

[CopMom]

Seem like BNB is ready to go to the moon next month . It's a good cryptocurrency of the best cryptocurrency exchange at the moment and I don't know how far it can after this coin burning ). Top 10 on Coinmarketcap? Seem like possible for a good cryptocurrency like BNB

[levyashin]

32 million binance coin seems too much.

I think this source is fake. Otherwise, 1/6 of all supply just for a quarter will rocket the price.


Oh it is not 32 million coin, 32 m $ worth of coin which is around 3m tokens.

[lobo13hf]

32 million binance coin seems too much.

I think this source is fake. Otherwise, 1/6 of all supply just for a quarter will rocket the price.


Oh it is not 32 million coin, 32 m $ worth of coin which is around 3m tokens.

It's not too much if you are seeing the report about how many revenue has already received by the binance exchange team. This news will make that makes sense https://news.bitcoin.com/crypto-exchange-binance-expects-up-to-1-billion-profit-in-2018/

but BNB gets a negative effect due to the bullish trend of bitcoin. That burn method doesn't give a lot of impact to the price.

[elncrow]

Yes. I also heard about it. I also heard that they will continue it until 50% of BNB coins are burned. That’s a good strategy as this will make Binance in a good position to lead.

[thaokhuyen02]

This may be a hot news, the BNB reduced circulation of traffic will make the market hotter. A large coin trading floor, which wants to boost coin value, requires a reasonable amount of coin in circulation

[Bytem3]

BNB coin is for sure a coin to HODL. They have big plans with the Decentralized Exchange and the Decentralized Bank!

[Mister1k]

I am sorry, myself do not know what will happen the coin has been burned means is it kind of halving thing? If that is kind of halving sure the concern coin wil be have good future like bitcoin. I see some says it is like divided.
How they will divide the coin burning thing. If that has been explained here or via pm that will be much helpful to understand it.

[Alpha0One1]

This is good as this will increase the value of BNB tokens.
I just don't see much utility for BNB except for fees. I hope they give % of transaction fees to BNB token holders similar to CoinEx, KuCoin or COSS.

[jurgen444]

the more coins are burned, the coin circulation in the market will be less. this will have a good impact on investors holder of coin bnb, because the probability of the price will increase.

[Danimore]

BNB coin is for sure a coin to HODL. They have big plans with the Decentralized Exchange and the Decentralized Bank!

After burning tokens . The price will go up higher and the people holding many tokens surely get a big profit .
we can see the new price at leat 20$ per BNB.

[zeze18]

The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.

https://coinpedia.org/news/binance-ceo-update-coin-burn/

Usually token burning will make the token exist are more valueable, but some also get price reduce because of some reason.
Let's see which one will happen to BNB

[cahkalem]

The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.

https://coinpedia.org/news/binance-ceo-update-coin-burn/

seems another jump price will come to BNB,,
and the amount of BNB is huge,, maybe can make the price of BNB x2 after this burning actions

[TravelMug]

The exchange conducts coin burn every fiscal quarter. Currently, they are ready for the fourth quarter coin burn which involves around $32.7 million BNB.

https://coinpedia.org/news/binance-ceo-update-coin-burn/

With this confirmation, Binance coins will be limited and scarce so its means that the price could go up anytime soon. Plus they really have a good reputation and I'm not surprised that the coins is really doing go and again with this news, investors will be very happy because they know that their investments will grow overtime. Current price is $12.00, prepare for another bull run and goodluck to all token holders.  

[caisa88]

Actually this coin burn is not as big as it sounds. It only represents 2.7% of the total marketcap, so you can expect an increase in price of 2.7% to happen after the coin burn is made.

[irixo10]

Coin burning is a necessity. And good news to those who are holding BNB. BNB's price will be more valuable in the future thanks to the coin as well as the exchange floor is increasingly popular with the increasing level of users every day.