ImThour (OP)
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April 16, 2021, 08:58:30 AM |
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Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
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CryptoATM
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April 16, 2021, 09:13:57 AM |
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The burn is already done? Why is the price keeps dropping then? BNB needs to retrace it's all time high to start surging again but right now I don't see any bullish trend but I believe that 520$ per BNB is still a steal, BCH on the other hand is going to 1000$ wether you like it or not, many people hate BCH but it has what it takes, anyways it's not to late to buy BNB
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CryptoTech_
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April 16, 2021, 09:35:43 AM |
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The burn is already done? Why is the price keeps dropping then?
Burn has been done and prices are still going down. You should be aware that we all don't know when Binance buy back tokens to burn. So even though currently the token has been burned, it will not affect the price. Because it could be that yesterday BNB went up high is the effect of the buyback |
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goaldigger
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April 16, 2021, 09:48:53 AM |
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I’ve heard about this news today and the hype is already circulating in social media but I don’t think it can affect the price today as we’ve seen pullback on the market.
The previous hype might be intentionally done by CZ because this burning, its hard to tell when will the market reacts on this but for now, let’s just see the price going down and wait for the right price to enter again, the future is still huge for BNB.
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JeffBrad12
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April 16, 2021, 10:05:37 AM |
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Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
IMO, the burn will give a long-term impact. I don't expect there will a big pump after this. The next IEO will bring binance toanother FOMO again. People have been starting to sell their BNB due to the news about the burn and bearish trend that is happening with bitcoin. Another correction for BNB will come. The burn is already done? Why is the price keeps dropping then?
that's a common thing in crypto. people buy the rumor and they will sell for the news. This is the best time for those to take their profit from the market. |
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zasad@
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April 16, 2021, 10:17:24 AM |
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These tokens will be redeemed by the Binance Exchange and compressed every 3 months until their total supply reaches 100,000,000.
1,000,000 tokens is not such a large number against the background of the total supply.
Now there is a bull market, so the price of a coin can rise under any pretext. Binance will burn its tokens for many years to come.
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TheMimic1
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April 16, 2021, 10:30:17 AM |
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Don't expect price surge instantly, market is retracing presently, even btc is down but I'm sure that once this weekend is over crypto market will turn more greenish again maybe then BNB will continue it's bullish trend 📉📉📉
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Jackl87
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April 16, 2021, 10:33:04 AM |
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Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
I don't expect a huge price pump due to the burn today because i think that this price pump already happened in the last two weeks. That is similar to "buy the rumour, sell the news" in my opinion, so before an event occurs the price pumps but once the event is there and happening the price is going down most of the times. In this case though i don't think we see a big dump. I expect not to much price movement because of the burn at all. If the price stays relatively stable that would be already a success in my opinion. |
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Reid
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April 16, 2021, 10:36:16 AM |
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Pumps don't happen in a blink just because they burnt their coins. But, this is good news. They can waste that high amount just for burning. If it's one of their marketing strategies then good. I bet a lot of investors will now give a damn about BNB. Let's just absorb what happens first then maybe we can see movement in a month or maybe even faster than that. I already bought my BNB before and even with dumps that are coming, I won't budge just yet.  |
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cryptoaddictchie
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April 16, 2021, 10:37:07 AM |
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Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
Hi mate it doesn't really mean a token burn would let the price hike instantly. Yes it is helping in the scarcity of the supply makes the token more in demand but that's not a good basis for a price jump. I dont know but I think BNB is already overbought and still needs retracement. The price jump so much since the start of the year and that's need a healthy retracement. |
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TastyChillySauce00
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Leading Crypto Sports Betting & Casino Platform
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April 16, 2021, 10:43:28 AM |
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The burn is already done? Why is the price keeps dropping then? BNB needs to retrace it's all time high to start surging again but right now I don't see any bullish trend but I believe that 520$ per BNB is still a steal, BCH on the other hand is going to 1000$ wether you like it or not, many people hate BCH but it has what it takes, anyways it's not to late to buy BNB
It's maybe because after the pump people trying to take profit and therefore the effect of BNB burning overshadowed by the dumping but burning itself also doesn't always guarantee price increase. So many cases out there I've seen where the developers trying to burn the coin either through buy back or other method but ended up having no impact to the market whatsoever, it's at the end of the day always depends on the demand in the market otherwise if the demand is kinda low burning is just reducing total supply and that's it. Though I actually think that the pump caused by burning already happened right after announcement not when the deed is done. |
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cryptomaniac_xxx
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April 16, 2021, 11:09:41 AM |
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Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
It doesn't mean automatic price increase, BNB has been doing very good even before the burnt, so we don't know if those guys have anticipated the price will increased prior to the burnt that's why there's no more pump in the price. Usually this is what happens to other coins that has the same protocol. Investors are wise enough enough to get it early and then wait for the actual burnt date. In short, the burnt price is already in. |
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michellee
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April 16, 2021, 11:18:49 AM |
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I am curious about what happens to BNB after the burn process is finished. If that can lift the price to the high price, that will be good for the investors because they will make a big profit and sell it and get their money back. But I guess the price will not jump in a short time because the market needs to adjust the price first before the price can increase. But if the price can increase shortly, that will be the time for us to sell and take profit.
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mr.robot8
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April 16, 2021, 11:30:01 AM |
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what do i think? is a strategic move by binance to artificially inflate the price of bnb and of course it will work
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samcrypto
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April 16, 2021, 11:37:38 AM |
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What is the expected price jump in BNB due to this?
$1000 price with BNB is still possible and many predicted BNB to reach that price this year but don't expect that burning of supply will make the price pump instantly, you still have to wait for this strategy to takes effect and if we're able to rise again after this pull back, then the up trend might continue with the good projects. Anyway, they burnt a huge amount of supply and it can really affect the value of BNB in the right time it is bound to become more expensive in the coming years. |
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memyselfandi
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Futurov
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April 16, 2021, 11:37:43 AM |
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Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
Yeah and that is the 15th time they burnt BNB. Some people said that it will reach around 700 usd for the next few days and some said that it could reach over 2000 usd because aside from burning tokens, bnb is already showing a great sign and trend to pump. |
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Kunnu
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April 16, 2021, 12:26:25 PM |
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After the burn there is no effective movement in the price of bnb I was expecting a decent jump in its price but that didn't happen anyways It's all depends on further movement of the market although this bnb burn will leave a positive impact on the value of bnb for sure hopefully there might be a decent growth in the price of bnb.
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redwine49
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April 16, 2021, 12:47:02 PM |
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Btw this discussion is more better asked in the speculation section.
Price is not always follow fundamental reason, that is just 1 factor remind that bitcoin price also down right now.
So there are many factor why price rise and dump. You can't just look at 1 factor to predict where the price will go
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Skinny48
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April 16, 2021, 01:24:47 PM |
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There is more room for growth on BNB coin, I'm guessing over 700$ soon but the fact still remains and that is when bear market? The moment you started asking yourself this question I'm sure you are already playing the safest game, take profits just in case
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SistaFista
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Hexhash.xyz
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April 16, 2021, 04:27:15 PM |
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It is the opposite, BNB price is going lower and i guess this is the correction from the ATH price few days ago.
I think many people was waiting to sell their coin after burn and hoping it reach very high price.
When they see the price is not rising anymore, they sold their BNB coin and that's why the price going down.
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