The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Please carry out your own research before investing in any of the numerous cryptocurrencies available.Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. The opinion herein should be taken as is. Disclaimer: This article is not meant to give financial advice. There is a structured coin burn a strong team behind the crypto exchange plans of expansion of the exchange a proven track record of constant gains as well as initiatives such as the 40% referral bonus for anyone with over 500 BNB in their Binance account. In a nutshell, the digital asset of BNB has everything good going for it. This means the value of BNB will continue to inch closer to the Stratosphere! This cycle will continue until there are only 100 Million BNB. The trading generates profits for the exchange that will be used to buy back BNB to be burnt. With more users, comes more visibility for BNB and more trading. This provides the exchange with a broader reach to attract new users who will in turn use BNB. Thirdly, the exchange has plans of opening exchanges in both Uganda and Malta. This means that the exchange has burnt some 5.028 Million BNB coins thus reducing the supply and consequently helping the value of BNB to go up as can be seen in the chart that was shared. The current circulating supply stands at 114 Million BNB with a total supply of 194.972 Million. In accordance with our whitepaper, we have now completed the burn of 1,821,586 BNB for the our 2nd quarter. This can be seen in announcement in January that stated the following. It announces the coin burn after the fact to avoid some form of market manipulation in the crypto markets. However, the exchange does not notify the users of a pending coin burn. Each quarter, the exchange uses 20% of its profits to buy back and burn BNB up until a total of 100 Million BNB are burnt. Secondly, the team at Binance does a BNB coin burn every quarter as part of the design of the exchange as illustrated in the whitepaper. To note is that the spike in the middle, is the time period between November 2017 and January 2018 when crypto trading had skyrocketed all over. This can be seen in the one year chart below. Binance discount rates with time So why is Binance Coin (BNB) such a good buy?įirstly, and looking at the general market trend of the coin, it keepsgoing up. The amazing thing is that if BNB is used to pay for trading fees on the exchange, a discount is given to the trader according to the rates below. According to the whitepaper, there would be 200 Million tokens created with 50% being offered to ICO participants. The token that was key for the ICO and exchange was Binance Coin (BNB). Sometimes, this daily trade volume was as high as $2 Billion earlier on in the year. Right now, the exchange is at its usual number one position with $1.486 Billion in daily trade. The Binance Exchange ICO was a huge success to the point where one year later, the exchange flip flops between the number 1 and number 2 positions on and according to daily trade volume.
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