One Million BNB Burned today.

[Rehan Zakir]

Today Binance has burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Because low supply always impacts on the price of the coin.
BNB currenct price is about 570$. So, please give your suggestions about BNB price in next few weeks or months.

[KryptoBull]

This event helped the recovery of the BNB price be faster and the BNB price continued to be held above 500 USD while the price of other tokens was adjusted by 20-30%. The burning of tokens by Binance is expected to help the BNB reach 1000 USD in 2021.

[Dexzon]

Actually you can see that every time BNB burns a coin, the price will increase 2x, 5x, 10x and you can see it when you trade on some of the top exchanges. But the price of BNB will still follow the movement of BTC price, as you can see right now, After the Burn is done price goes up quickly, and at the same time when the BTC price goes down, the BNB price goes down.

[legend45]

This event helped the recovery of the BNB price be faster and the BNB price continued to be held above 500 USD while the price of other tokens was adjusted by 20-30%. The burning of tokens by Binance is expected to help the BNB reach 1000 USD in 2021.

Yes, I think bNB already bounce back to reach 500 USD again. Current BnB price is 542 USD . I hope burn one million has good effect to recover binance price faster. That's a good way to do. I hope BNB will touch 600 USD soon.

[Freemind]

What Binance does with BNB is something that many projects should do. Binance continues to build a project within an ecosystem while simultaneously burning coins to avoid inflation and make the asset gain value, there is no better way to grow a project, and that should be known to all projects with billions or an infinite supply on the market.

[zorchy]

I think there will be a decline in the range of $ 370-440 and after that it will gain its caps

[Master107]

Expected the price will surge in due time since the burning take place simultaneously.

CZ knows what is the best way to maintain and make BNB worth to buy and hold more than just a gas fee.

[Carbitcoin]

in any case, burning a lot of coins has always benefited the project itself. Therefore, I would not be surprised if the BNB continues its confident journey to the moon thanks to this event.

[mrjoy15]

~
BNB currenct price is about 570$. So, please give your suggestions about BNB price in next few weeks or months.

BNB is pumping hard, and made new all time high recently, which is $641USD. Few crypto analytics already told us that don't be surprised if you see BNB $1,000 in next 2-3 months. Just HODL your BNB bags, we are still so early in the bull run. Right now it's heading to a bigger bigger amount, a larger % gain to be had with BNB.

[neptunemutual]

What Binance does with BNB is something that many projects should do. Binance continues to build a project within an ecosystem while simultaneously burning coins to avoid inflation and make the asset gain value, there is no better way to grow a project, and that should be known to all projects with billions or an infinite supply on the market.

(newbie here, we tend to think alike a lot)

Absolutely agreed. Because they are constantly innovating and creating new "use cases" for BNB. Once, all you could use BNB for was to get discounts. And then gradually, it got added to some payment apps, and then you could spend BNB from credit card. But the release of Binance Smart Chain gave BNB a massive utility as it has now become the "fuel" to run blockchain transactions. CZ, Binance, and team are seemingly doing the right thing (for BNB holders) from my perspective. They are not only burning a portion of BNB supply yearly but they are providing 50% gas subsidy to projects (Binance BUILDR rewards) who build on Binance Smart Chain.

[Freemind]

(newbie here, we tend to think alike a lot)

Absolutely agreed. Because they are constantly innovating and creating new "use cases" for BNB. Once, all you could use BNB for was to get discounts. And then gradually, it got added to some payment apps, and then you could spend BNB from credit card. But the release of Binance Smart Chain gave BNB a massive utility as it has now become the "fuel" to run blockchain transactions. CZ, Binance, and team are seemingly doing the right thing (for BNB holders) from my perspective. They are not only burning a portion of BNB supply yearly but they are providing 50% gas subsidy to projects (Binance BUILDR rewards) who build on Binance Smart Chain.

I agree with what you say. Every time Binance burns an amount of BNB, they are not only adding more value to their product, they are also creating new use cases that benefit the platform, the ecosystem and the users. And all of that translates to greater popularity and usage, greater value, and the creation of new products, something that many project teams should do before falling into oblivion. BNB has one of the brightest futures in the crypto ecosystem thanks to Binance constantly improving it.

[neptunemutual]

Thank you Freemind. I would like to point developers and community to this link:

https://www.binance.com/en/blog/421499824684901064/Introducing-the-BUIDL-Reward-Program-for-Binance-Smart-Chain

Unlike most of the crypto exchanges, Binance are not acting selfish as the above is proof that Binance do not ONLY care about money. Binance have been doing a lot of right things since their inception and that has been one of the main reasons developers are attracted towards BSC. Otherwise, there are cheaper (and maybe better) "Ethereum-compatible" blockchains out there but they don't have the adoption BSC has. Again, it all boils down to supporting the community like the link I posted above.

[Freemind]

Thank you Freemind. I would like to point developers and community to this link:

https://www.binance.com/en/blog/421499824684901064/Introducing-the-BUIDL-Reward-Program-for-Binance-Smart-Chain

Unlike most of the crypto exchanges, Binance are not acting selfish as the above is proof that Binance do not ONLY care about money. Binance have been doing a lot of right things since their inception and that has been one of the main reasons developers are attracted towards BSC. Otherwise, there are cheaper (and maybe better) "Ethereum-compatible" blockchains out there but they don't have the adoption BSC has. Again, it all boils down to supporting the community like the link I posted above.

I think it is very obvious that Binance cares about more things than money. It has taken the Binance team just a few years to build not only the #1 exchange worldwide by daily volume, but they have also created a series of products that have vastly improved the entire crypto ecosystem offering many more possibilities for users and companies, and I also think that the documentation available that Binance has for any user is excellent, which helps newbies a lot. Ethereum will have to improve a lot to prevent BNB from overtaking it in the not too distant future.

[babu10]

Actually BNB team is very expert in their marketing policy and they made crisis in market for their token so that they can gain profit in low time. But i think their time has gone as ETH gas fees also in our close hand like previous. So i think they now have to take another policy otherwise their burning will not work in present ETH gas fees.