Join 63,938 users and earn money for participation

Binace Will Burn Another $37 Billion Worth Of Binance Coin (BNB) From ICO

30 40 exc boost
Avatar for Eybyoung
Written by   651
3 weeks ago

With the recent bull run, we see how the Binance coin (BNB) surges up and reaches $638 as an all-time high. The surge was associated with the Binance Smart Chain that works great on the DeFi platform, they also burn last week of tokens aside from that Chanpeng Zhao CEO Binance tweets added the hype and make other investors got FOMO!

Just three days ago, on April 16, 2021, Binance burned 1, 099,888 BNB tokens worth $592,434,117. Many are anticipating that BNB price will pump again but to their dismay, it goes down to $428 because BTC is also dumping. It was supposed a good chance to buy but then again, I missed the opportunity lol.

Yesterday, Zhao tweeted again to burn 40% of the total supply of BNB from the ICO (Initial Coin Offering) days that is worth over 37 billion dollars, yesterday's price below $480. 40% will be deducted to 200 million BNB that was minted during the 2027 ICO.

CZ Twitter post stated that the exchange team will ultimately burn all the allocated tokens, which is 80 million BNB instead of selling it for profit. It is the opposite thing how Coinbase $Coin drops because Coinbase's CEO sells a big portion of his asset for a profit.

The finance team completed its initial ICO of 100 million BNB last July 21, 2017. All BNB tokens were sold within 20 days which was created before the ICO.

The announcement was made after the exchange launched a blockchain network. The network strives to compete with Ethereum having a share of the DeFi (Decentralized Finance).

“It’s used on multiple DeFi platforms built on BSC that provide financial payments solutions. With the growth of BSC, more people are using BNB, and the more utility it has, the more value it gains,” Binance said.

Closing Thoughts

DeFi projects has been surging within the last few months using the BSC (Binance Smart Chain) some DEX's (Decentralized Exchanges) like Pancakeswap, Beefy Finance, BakerySwap, Julswap and more are using the BSC chain as it has faster transaction and low-cost fees compared to Ethereum gas fees. Some DEX from Ethereum had integrated with BSC because of the gas fees issue, like 1INCH. With this DeFi booming, more and more people are using BNB as token fees this will bring more utility to the coin, and eventually, the price of it will also rise.

So do you have BNB? Me I still don't have it, I am planning to buy it at $430 but already rise to $500+ as of writing this article maybe the tweet of CZ made other investors buy again.

13
$ 4.07
$ 3.68 from @TheRandomRewarder
$ 0.20 from @Jane
$ 0.05 from @Ruffa
+ 6
Sponsors of Eybyoung
empty
empty
empty
Avatar for Eybyoung
Written by   651
3 weeks ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

okay, may mga terms akong di naintindihan.need magresearch ulit..

ano ba ibig sabihin ng burn dito

$ 0.00
3 weeks ago

May article ako about burn, browse mo article ko about Cake burning andon ang details hehe.

$ 0.00
3 weeks ago

sige po..i will check

$ 0.00
3 weeks ago

After BCH my other target to work on Defi.Many people giving good news about its value🤗🤗

$ 0.00
3 weeks ago

wow

$ 0.00
3 weeks ago

Nakamaintenance ang binance ngayun nang icheck ko. Kahit walang pambili... Kahit konti man lang... 😁😁😁

$ 0.00
3 weeks ago

Hahaha oo nga eh, naka maintenance sila pero 2hrs lang nmn daw yun according to the notice.

$ 0.00
3 weeks ago

Ganun ba. Macheck ko nga mamya...

$ 0.00
3 weeks ago

Sa kakaburn nila parang mauunahan pa nila BCH, pero wala epek naman last burn announcement ni CZ sa twitter. Bakit kaya 😂

$ 0.00
3 weeks ago

Minsan kase late effects din nmn ang burning, pero dependi pa rin talaga yan sa volume nang buyers ang pag taas nang coin value haha

$ 0.00
3 weeks ago

Diba nag dump si BNB kailan lang hanggang $480k+ ata not sure. Bumili kaba?

$ 0.00
3 weeks ago

Di na hit $430 order kob😂

$ 0.00
3 weeks ago

Ehh, malay mo naman bumaba pa. Ang liiy pa naman ng bnb ko ahaha lugi na nga augoo

$ 0.00
3 weeks ago

Oo baba pa yan kita ko chart pababa sila 😅

$ 0.00
3 weeks ago

Aigooo, sana maka buy ako kaso diko pa bawi ung nasa shitcoin ko 🤦, namumula din ee tsk.

$ 0.00
3 weeks ago

Sana magpump BNB kahit $800 lang. Pero mataas daw pangarap ni CZ para sa coin niya eh. Hahahaha 😹🤣

$ 0.00
3 weeks ago

$1000 nga daw hahaha

$ 0.00
3 weeks ago

Wow. Parang tatalunin pa Eth niyan. Hahahaha Pero umaasa din jan eh. Hahahaha 😹🤣

$ 0.00
3 weeks ago

Hahahaha dami na kase DeFi nasa BSC diba dahil umaaray sa gas fee nang eth.

$ 0.00
3 weeks ago

So need nb bumili ulit habang dump pa? 😅

$ 0.00
3 weeks ago

Oo hahahha

$ 0.00
3 weeks ago

I never tried that hehe. But its nice article though. Keep it up

$ 0.00
3 weeks ago

Thank you hehe

$ 0.00
3 weeks ago

I'm ready 😊💚 I didn't buy😅 but It's all in BNB Vault.

$ 0.00
3 weeks ago

Wow sana all ready na haha

$ 0.00
3 weeks ago

hahaha maliit Lang Naman Yong akin Kaya ready na siya 😅

$ 0.00
3 weeks ago

i bought some before the pump but wasnt able to sell because i was busy and didnt set my signal. well i still keep it.

$ 0.00
3 weeks ago

Good amazing work keep it up weldone

$ 0.00
3 weeks ago

Thank you.

$ 0.00
3 weeks ago

I sold mine hahah xD

$ 0.00
3 weeks ago