Binance owns 82.69% of BNB

[MrSolo]

Hello,

My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?

should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think

BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478

[bitkanu]

Hello,

My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be?

How can you sure if binance was holding more than 83% from the total supply? 50% of BNB were going to the ico participants a few years ago.

i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?

it caused by BNB has so many utility use case instead of another coin. Didn't you aware about this? Do i need to show you the proof?

should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think

I think that you must read about the binance tokenomic but it's not relevant again as binance has BEP2 chain and BEP20 chain. that means binance has two version at this time as native BNB and Binance smartchain. I guess those binance tokens were still on ethereum already swapped to the binance native chain or binance smartchain. that's why the total supply owned by binance on ethereum chain was increasing a lot.

BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478

I have been checking the wallet and i would like call that as hot wallet instead of cold wallet. I may wrong about this but it seems like those funds are still locked.

[MrSolo]

How can you sure if binance was holding more than 83% from the total supply? 50% of BNB were going to the ico participants a few years ago. 

https://etherscan.io/token/tokenholderchart/0xB8c77482e45F1F44dE1745F52C74426C631bDD52
https://etherscan.io/token/0xB8c77482e45F1F44dE1745F52C74426C631bDD52#balances

it caused by BNB has so many utility use case instead of another coin. Didn't you aware about this? Do i need to show you the proof?

My point was about the holdings, look at doge and how everyone is suspecious about it because it's held by the devs.

I think that you must read about the binance tokenomic but it's not relevant again as binance has BEP2 chain and BEP20 chain. that means binance has two version at this time as native BNB and Binance smartchain. I guess those binance tokens were still on ethereum already swapped to the binance native chain or binance smartchain. that's why the total supply owned by binance on ethereum chain was increasing a lot.

i don't care how it happened or if it's from their exchange, holding 83% of a coin is very bad and it should never happen, i don't care about the justification if the result is the devs of the coin holding 83% of the coin.

and please don't give me the locked bs, if it's not burned then it's still in circulation.

[GreatArkansas]

A lot of things need to consider here especially Binance got Binance exchange and for sure the 82.69% will be reduced if we deduct the percentage of trading volume or the amount of BNB currently inside the Binance Exchange.
And another thing is for sure, this is one of the reasons why people keep telling that BNB or Binance Smart Chain is centralized, tokens are not properly allocated on different addresses makes it more centralized. Hence, I don't really like holding this kind of coin too much.

[tvplus006]

.... i would like to hear what you guys think...

I can assume that these wallets that the OP indicated belong to the Binsnce exchange and, accordingly, they contain BNB coins of exchange users. But in any case, a lot of coins are in the possession of the exchange team, which were released in 2017 and partially unblocked this summer.

[samuraijin]

if you do some research, maybe you will think it's normal, not only in BNB for example UNI token which is still younger than the Binance company, the UNI team also holds a lot of tokens, but investors still buy it, but binance is a big company, so I'd better keep BNB because I believe the funds will be safe with Binance it's not possible on UNI new projects whose future isn't visible either, you can choose to hold on to it or throw it away

[Snappycoco]

That's alarming. With that kind of amount hold, it is easy to manipulate the price. The centralisation of it quite immerse than other cryptocurrency leader like ETH. Nonetheless, probably these account are for all binance users who holds BNB. These are probably combined one and that makes it look bigger. Correct me if im wrong please.

[mu_enrico]

Probably it's just a cold wallet of the Binance exchange. But yeah, this coin is centralized as the name suggests.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.

Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.

[ryzaadit]

should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?.

#SAFU word + everyone knows who is the founder and team ~XD

What mu_enrico say is right, that just a cold wallet address as you can see every wallet have a custom name and is used for various transaction for the exchange transaction. BNB is used by Binance for various thing especially for new IEO no wonder why everyone is stored on Binance.

[BayAngelo]

this report is wrong. in as much as Binance is centralized and have major investors as Holders. i think they are your assertion is wrong. Binance has been burning their token and they are removing a huge amount of it from circulation. i don't think those huge investors are finance holders. they are just investors. i don't think those wallet hold 80% of bNB tokens.

[blatchcorn]

Probably it's just a cold wallet of the Binance exchange. But yeah, this coin is centralized as the name suggests.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.

Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.

I have no idea that how much BNB is held by Binance but yes its a centralized type of digital currency just like XRP and such coins must not be mixed with decentralized crypto currencies like BTC, ETH etc. Once you identify something as centralized then any manipulation can be done with that thing whether its BNB or USD.
Worrying part is that we must

should i be worried of this?

No you don't need to worry about that part. Understand the underlying ideology of every coin first. If its centralized then its 100% under one entity control .

[MrSolo]

The common theme in most of the replies is that the coin is centralized and nobody actually knows how much does Binance hold but it's a large percentage, and i should trust binance to do the right thing and that they won't dump too hard.
My conclusion is that BNB is too centerlized and that means that any whale would think twice before investing in BNB, which negativly effects the price long term. that suggests to me that the success of BNB is directly linked to how successful Binance is and will be in the future and that goes against everything that crypto stands for.

[WeedGoW]

Dude, the main application for BNB is to reduce the trading fees on Binance, a centralized exchange remember?? Sure, they are branding the BNB out of other uses but still, that's where everything is stated and investors gonna use it for what it really was, originally.
Of course, they, investors/buyers will hold their BNB at Binance exchange to use that features. What did you expect to say Binance owns all that amount puts in exchange's address and then switch to complain about 'it was too centralized'?

[bitcoin-shark]

it was already known that the bsc blockchain was not decentralized even if all those bnb were not in possession of the binance exchange is in any case worrying that only three addresses hold over 80% of the total this means that they can significantly influence the market at their liking

[Anonymous100]

Hello,

My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?

should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think

BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478

If we examine the three wallets, the total BNB for the Ethereum and BSC blockchain is less than 20 million BNB. So, where does 83% of total BNB come from? Maybe we see the wallet, the total balance of Ethereum is bigger than BNB.

[zonefloor]

This is very normal for me. It's also pretty reassuring in the future of BNB. But when we look at it from another point of view, it also poses a lot of danger. The fact that the majority of BNB is in binance shows that they support the project and prevent manipulations. But when we look at it from the other point of view, when there is no promising situation and things start to spiral, they may cause people to suffer by selling all their BNB to their investors. As long as they continue like this in the near future, I don't think there will be such a danger.

[ameliana]

BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478

I can only think that a wallet is a wallet on the dex exchange and a wallet is a tool for making exchanges and it's possible that some wallets on the exchange also have such wallets of very high value, meanwhile I'm still very confident to stay with BNB for the long term.

[Yogee]

..... My conclusion is that BNB is too centerlized and that means that any whale would think twice before investing in BNB, which negativly effects the price long term

I wouldn't be too sure what whales would think or not to think unless you're a whale yourself. Some people that entered crypto coming from traditional markets are open to the idea of coin control or centralization.

that suggests to me that the success of BNB is directly linked to how successful Binance is and will be in the future

BNB was created for Binance so it only follows that its success depends on the platform and its chain.

and that goes against everything that crypto stands for.

What does crypto stand for? Times have changed and people view it differently now.

[Kemarit]

.... i would like to hear what you guys think...

I can assume that these wallets that the OP indicated belong to the Binsnce exchange and, accordingly, they contain BNB coins of exchange users. But in any case, a lot of coins are in the possession of the exchange team, which were released in 2017 and partially unblocked this summer.

This is what I initially though, since it's obvious that BNB has been trading in Binance so they majority of it will be on their wallet, but doesn't it mean that they own it personally? That's two different things in my opinion.

And I'm not sure where the attack or hate from the OP is coming from. I mean there are projects that hold the majority of the stakes but still people invest on them even though it's centralized.

[Jackl87]

Hello,

My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?

First of all it should be clear that binance is now owning all of those 83% percent of bnb. I guess that are just all the bnb that are somehow connected to the exchange like for trading or from users that have staked them on the platform.
That being said i have never been a big Fan of binance and cz as they are just getting to powerful and it is never good for a space if one player gets to strong and is dominating all the other companies. Binance is also not really decentralized which was the reason why cryptos were invented in the first place.