1 Million BNB Burnt today

[slaman29]

All that burning and price didn't actually improve, though! I mean, of course now markets are recovering and alts aren't far behind in improving from their weekend standing.

But BNB has always been burning supply regularly. Not sure if the effect will always be evident with every new burn.

Meanwhile, NFT markets I see on BNB are spiking.

[Vishnu.Reang]

All that burning and price didn't actually improve, though! I mean, of course now markets are recovering and alts aren't far behind in improving from their weekend standing.

But BNB has always been burning supply regularly. Not sure if the effect will always be evident with every new burn.

Meanwhile, NFT markets I see on BNB are spiking.

The exchange rate hasn't gone up because BNB is already overpriced. During the last few weeks, the prices went up by manytimes. On top of that, Coinbase had a rather disappointing listing last week. That will have some (negative) impact on the BNB prices. And worse still, COIN may dip further today, due to the bloodbath we had in the cryptocurrency market during the last few days. And again, this will put a lot of pressure on BNB.

[tbterryboy]

All that burning and price didn't actually improve, though! I mean, of course now markets are recovering and alts aren't far behind in improving from their weekend standing.

But BNB has always been burning supply regularly. Not sure if the effect will always be evident with every new burn.

BNB is trading near 0.0092 BTC right now and I guess that has become possible because of continuous burning process. They already got real life usage for BNB coin and they are regularly emphasizing about holding BNB coins for VIP status for the traders whoa re active in binance exchange and when they are doing multiple methods to get more value for BNB then I guess it will someday beat ethereum at least in BTC values (currently ethereum is trading near 0.04BTC which is 4x more than BNB) if you are calculating marketcap is something completely different one.

[revilo]

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

The recent price pump in BNB token is as a result of buy the rumour and sell the news, this has been priced into the price again anyone buying expecting the price to go up now is going to lose money short term. I am very bullish on the tokens long term but if you think this burnt is going to affect the price after announcement then you have missed the opportunity

Still I don't like that there seem to only be rumors upfront about burning. Does Binance not announce in advance when those burns will approximately happen?

[gaston castano]

Of course it will have an effect on the price of BNB in ​​the future, because the amount has decreased but the demand for BNB continues to increase, the price will increase, that is the basic logic of the economy but of course there will be other factors that influence this.

[slaman29]

BNB is trading near 0.0092 BTC right now and I guess that has become possible because of continuous burning process. They already got real life usage for BNB coin and they are regularly emphasizing about holding BNB coins for VIP status for the traders whoa re active in binance exchange and when they are doing multiple methods to get more value for BNB then I guess it will someday beat ethereum at least in BTC values (currently ethereum is trading near 0.04BTC which is 4x more than BNB) if you are calculating marketcap is something completely different one.

I don't know if you can call staking and Defi and NFT thing as real life usage. When the hype for NFTs die down, when Defi becomes possible for cheap again on a more secure and more decentralized network (ETH 2.0) I can't see where else Binance can go.

Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.

[wxxyrqa]

I don't know if you can call staking and Defi and NFT thing as real life usage. When the hype for NFTs die down, when Defi becomes possible for cheap again on a more secure and more decentralized network (ETH 2.0) I can't see where else Binance can go.

Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.

Today, the main problem with Ethereum is high fees, and in the near future the situation can really change for the better. Defi may not be as active and therefore the throughput of Ethereum will increase again, and after the final phase 2.0, the developers promised to reduce commissions. In addition, some of the commissions will be ignited, and this, in any case, will have a positive effect on the pricing of Ethereum.

[Hobo66]

They’re only burning approx 1.3 million out of a supply of approx 170 million, not even 1% I doubt it’ll make much difference
burn is term for some coins are lost forever  and stored in a cold wallet! any crypto produce an virtual gas that get burned within transaction! but do not confuse burn with denomination! these are very different !

[kak uli]

~

Binance's routine agenda is to reduce the supply of their tokens in the market to support the increase in the price of these tokens. As for after the burning was carried out, the price of the BNB was lower again due to market correction and the price increased again after the market correction occurred, the investment in BNB was very profitable.

I think the main objective is not to increase the price. This is a market control that the Binance developers are doing very well by creating a BNB coin that people will always be looking for.
they created BNB with the condition that there will always be an increase in adoption in the future. Their developers are really very smart already planning their market very well.
because for those who know the potential of BNB. then 2-3 years ago. they would never sell BNB at such a low price.

It's the same, when people make more and more people look for BNB, at that time the price of BNB is getting higher, meaning that BNB is getting rarer, the price is getting higher. that's why my statement on the thread above which says their goal of burning 1 million bnb is to increase the price.

[meysonYo]

Probably, I will express my humble opinion here. Binance, as a separate commercial project, is a very successful enterprise and with its multi-financial functions it attracts a lot of new users. So why am I saying all this ... perhaps if someday there is a global fall in the entire market, it will be directly through problems with the Binance robot. I am afraid that in case of some irreparable problems with the exchange, the market will simply suffer a huge collapse...This must always be remembered.
Do not think that I am causing panic. I just want to discuss this topic;)

[slaman29]

I don't know if you can call staking and Defi and NFT thing as real life usage. When the hype for NFTs die down, when Defi becomes possible for cheap again on a more secure and more decentralized network (ETH 2.0) I can't see where else Binance can go.

Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.

Today, the main problem with Ethereum is high fees, and in the near future the situation can really change for the better. Defi may not be as active and therefore the throughput of Ethereum will increase again, and after the final phase 2.0, the developers promised to reduce commissions. In addition, some of the commissions will be ignited, and this, in any case, will have a positive effect on the pricing of Ethereum.

It's kind of the only real problem that anyone else understands too, actually. You could argue that PoS is also a security issue but most users, myself included, feel that ít's secure enough to trust. Also the old problems of decentralization we feel are partially taken care of.

As I said, and yeah, once defi loses hype people return to what they know and trust is decentralized. That means ETH enjoys the dapps coming home.

[Samurai trieng]

Binance is an altcoin that has great prospects in the future, especially now that they have burned approximately 1 million BNB, of course this is a very positive breakthrough, because with the reduced supply of BNB, the price of BNB will be able to increase in the future, hopefully  This burning can provide new hope for BNB to continue to compete with ETH,

[nicecrypto]

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

Well I guess that is different today because the price of BNB you most admit has gone back up to currently trading at $600+ now. I believe investors wanted a quick price reaction to the BnB burn but even in Bitcoin Halving, the price don't just change like that I guess. I believe BNB is still in good shape and looking to hit that $1k price by year's end.

[xperiance1814]

I would rather think that this sudden increase, from 460's to almost 600's is due to the BAR (Barcelona) token which will be tradable today at 13:00 pm.
But BNB future is still bright, I believe also it will reach the 1000's by end of this year, it's a strong project.

[mamesso]

It's the same, when people make more and more people look for BNB, at that time the price of BNB is getting higher, meaning that BNB is getting rarer, the price is getting higher. that's why my statement on the thread above which says their goal of burning 1 million bnb is to increase the price.

The logic is like that, after the combustion process is carried out, the supply of BNB will decrease in the market and become increasingly scarce. In the coming months we'll see a new BNB hype, I am very confident with BINANCE coupled with the increasing development of BSC. BNB is one of the best crypto assets to be reckoned with, Moreover, after the burning is done we will soon see BNB reaches new ATH.

[adekogbe]

Token burn in theory should lead to an increase in price of the token due to a decrease in supply, however i font think this has always have an immediate impact on price as we all anticipate
In the long term there will definitely be a price move in correlation to this burn, but i really dont see it happening in the short term

[mulia sabee]

We have more examples coins are pumps after some millions coins has been burned and Same thing Will be applied to BNB also but there is more chance to BNB coins because the BSC and other things are helping more i hope BNB will be reach 1k soon.

I think what you expect by increasing the price of BNB will definitely happen, but we are just waiting for the right time for the price of BNB to continue to increase. from several media that I have read that the BNB is working hard to provide security for its users and the BNB is working to continue to increase the price of its tokens. therefore I believe the BNB will be better for the future.

[raji1995naya]

The aim of this burning, in my opinion, is to decrease the availability of their tokens in the market and promote the process of raising the price of BNB. Of course, this is a positive thing to do in order to change the amount of coins in the market, as the decreased supply of tokens would raise demand. Many people are familiar with BNB, as it is one of the most common crypto currencies. The current value of BNB leads me to conclude that it will continue to be useful for a long time. The factor that makes us enjoy it is the fact that its worth rises. This will undoubtedly become a well-known and in-demand coin in the crypto industry.

[BOAEDAN]

I think burning coin is good and worth how to make price pump but you need to check beside of burning coin developer of BNB unlock billion coin, maybe is not all people know with this way because not publish and give positive side exactly BNB burning. You need to check how much BNB supply before and after burning, if you see supply deduct is real burning but without deduct and have the same supply BNB have make unlock coins.

[Shallow]

More burn gives rise to more price pump because the supply will reduce, however I would say that in most cases coin/token burn do not have any positive impact on the price and this is seen in cases where the project in question is not a strong one. But for a platform like Binance where the CEO is an expert in bringing more features, even at the mention of the BNB burn it drives a little fomo or hype which then results to price increase.
Before now, many platforms used to leverage on this token burn to pump their token price but since they do not have what it takes to grow or lacks good use case, the token burn ends up not having any positive impact. Lastly, buying a coin just because of token burn is not really a good idea in many cases, unless the coin/token in question is really a good one like BNB.