Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: Sonjoy on October 19, 2021, 07:03:08 AM
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Fellow Binancians,
We have completed our 17th quarterly BNB token burn of 1,335,888 BNB (roughly $639,462,868 equivalent). The latest quarterly burn includes the actual burning of 1,318,049 BNB, plus an additional 17,839 BNB that was effectively burned via the Pioneer Burn Program.
17th Quarterly BNB Burn Txid:
https://explorer.binance.org/tx/C65EBACD22FB804DADABD0A4BDF4245D25F70B0B923A1A2064596F06E3BA54E3
For more information on the BNB burn, please refer to our blog post: 17th BNB Burn | Quarterly Highlights and Insights from CZ
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Thanks for your support!
Binance Team
2021-10-18
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
More info: https://www.binance.com/en/support/announcement/39e8f691d64d468fbab1591fdf2aa343
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The burning of 1,318,049 BNB coins is truly extraordinary and it can shake my faith because the value is very large when converting to USD and this is something I really appreciate because Changpeng Zhao kept his promise from the start to always burn his coins up to 50% of the total available supply.
Now the supply of BNB is around 166,801,148.00 BNB and that value will continue to decrease as future combustion occurs and of course BNB will also increase in price slowly or quickly.
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We can see that Binance is putting a lot of effort into supporting the BSC ecosystem. Initially a 1B USD investment to develop applications, then burn BNB to push the price of BNB to launch the growth wave of tokens in BSC. I bought some interesting tokens like CAKE & BAKE, I will be waiting for their new ATH in November.
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Look at the amount of money burned by BNB coins that maybe I don't even have 1 BNB coin and it's really a pity for me if a valuable coin has to be burned but in fact this is the real goal of Binance.
Usually burning coins like this will give something very valuable and certainly give something of an explosion for the price of the coin, I am waiting for this moment for something very good in the future.
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No wonder this Binance coin continues to rise and until now the price of BNB cannot be staged by the market or a dump occurs because every quarter there is always a BNB coin burning and this is really very impressive for me.
This BNB has now reached 600 USD in price and the coins that were burned were more than 1 million BNB and surely this value is fantastic, if I had 10 BNB it would be enough for my capital to trade in the cryptocurrency market.
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This is very good news for BNB holders and supporters. I think this will help BNB to carry their market smoothly as it will flash the buyers mentality so that create impact on price also. I think this is possible from team commitment and strategy. hope more people will be loved by BNB for this reason.
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I am a Hodler of BNB since 2018 and I love BNB coin because it has Centralized Exchange.
Can't wait for a BNB coin burning like this to really provide great information I'm also sure that BNB in the future will increase in price very quickly.
And the ecosystem of BEP20 is also very fast and even the platform of DEX on Binance Smart Chain is huge and this will sustain the value of the Binance coin itself.
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Pretty interesting information, I will keep in mind. Thank you for the news business
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It is very good when the platform gets rid of coins to increase their value, or it will not affect their value. They have done a lot for the platform and for the project as a whole to make their product popular.
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Until now, perhaps the largest BNB coin has burning than altcoins which because of its value, even millions of USD are simply burned and it is truly extraordinary and this principle has been perpetuated since it was first created by Changpeng Zhao.
I'm also sure that until now there has been no CEO who has been able to create a platform like Changpeng Zhao who is very solid with his coin creation so that the value of BNB is so extraordinary that millions of USD ids are easily burned for free.
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What I hope for again is the burning of the BNB coin again later when I step on the next month because for sure I will dream of the BNB value at that time Pump because of the effect of Coin Burning.
The Burning effect of this coin is always the best in the cryptocurrency market because in truth, the supply of coins during Burning will decrease and market demand will definitely increase, especially since this BNB coin is of interest to all cryptocurrency communities around the world.
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https://www.google.com/amp/s/cryptopotato.com/binance-smart-chain-activates-real-time-bnb-burning-mechanism/
I think, we don't have to wait when the BNB coins will be burned. Because the developer has introduced a real-time burn system. this will be good in the long run because the limited supply will increase the price of coins like Bitcoin
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To be honest, after each burning of BNB coins, the exchange rate does not react particularly well, this is of course good, there are fewer coins in circulation, but other news pushes the coin up, not burning in any way, this is my personal opinion, I may be wrong.
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I didn’t notice that after the burnings, the BNB price grew strongly, on the contrary, I often noticed a fall in the price after the burning. It seems to me that the launch of new projects on the launchpad has a greater impact on the price of BNB than burning.
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Binance having a burn strategy like this is a very good idea and can trigger investors and whales to enter because when BNB is getting harder to get it will make the price very expensive because supply is getting tips and many are looking for BNB, hopefully Binance has a lot of development others that can make the price of BNB even more expensive.