Binance Coin token Burn eliminates 1.2 million BNB from circulation
Binance Coin token Burn eliminates 1.2 million BNB from circulation
- Binance leads his 16th token-Burn in accordance with the schedule by 1,296.728 BNB.
- A further 16 million BNB unlocked were postponed to a team address.
According to the schedule, the Krypto trading platform Binance carried out its 16th quarterly Binance Coin (BNB)-token-Burn. Over 1.2 million Binance Coins (BNB) were recently burned worth $ 400 million. In addition, the remaining 16 million BNB coins were unlocked and, as planned in the white paper
summarized: 1.296.728 #bnb (390.855.150 USD) burned by @binance .
The remaining 16 million BNB were unlocked and postponed to a team address in the white paper. href = "https://twitter.com/hashtag/binance?src=hash&ref_src=twsrc%5etfw"> #binance Team has never used or sold a single team #bnb so far only burned.
- cz 🔶 binance (@cz_binance) 18. July 2021
The official Ankunting also reads:
We have completed our 16th quarter of BNB token-Burn of 1,296,728 BNB (corresponds to around 393,673.52 USD). The last quarterly burn includes the actual burning of 1,291,565 BNB and another 5,163 BNB, which effectively over the. Burned pioneer burn program .
The Coin Burning Coin Burning is completely removed from circulation. The amount of burned BNB coins depends on the number of trades that the stock exchange carries out each quarter. The burning of BNB coins takes place quarterly, up to a total of 100,000,000 BNB coins.
During the recent correction of the cryptom market, the Binance Coin (BNB) Prize has corrected 50 percent of its all-time high of over 600 USD. At the time of printing, the BNB acts at a price of $ 299 with a market capitalization of over $ 50 billion. Binance Coin (BNB) continues to enjoy its position as the fourth largest cryptocurrency after market capitalization.
Binance under deep water
The KryptoBörse Binance has been through a fairly rough phase lately. The largest crypto exchange worldwide after trading volume is faced with considerable counter-reactions from regulatory authorities around the world. Based on the British FCA, Binance has received messages from supervisory authorities in Thailand, Tokyo, Germany, Singapore, Italy, Hong Kong and others.
In addition, several payment partner for Binance have hired their partnerships. The fact that Binance does not have a single global headquarters has annoyed the supervisory authorities. The crypto exchange has constantly moved its basis since it moved out from China in 2017. Recently, Binance has stopped its assistant service in the middle of the regulatory counter reactions.
Read more : Binance sets its asset service because Italy and Hong Kong join the regulatory approach
Since Binance is still exposed to regulatory heat, CEO Changpeng Zhao spoke about the point of view of the stock exchange in this matter. The CEO welcomed the regulatory measures and said that they will pave the way for a solid basis in the future. CZ said:
More regulations are indeed positive signs that an industry becomes mature, because this forms the basis that a wider population feels safe to take part in crypto. I believe that a well -developed legal and regulatory framework will be a solid basis in the long run that makes crypto really indispensable in everyday life.
The statement by the CEO has given BNB investors and their customers some hope. We assume that Binance simply does not avoid the regulations, but will take correction measures in this direction.
Source: Crypto-news-flash.com
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