The Coin Shark: Binance Burnt Its BNB Tokens For $23.8 Million
Representatives of the world’s largest cryptocurrency exchange Binance report that they have performed the next burning of BNB tokens. This time they burnt 808,888 BNBs, which is equivalent to $23.8 million at the current rate.
This transaction can be seen here, as well as in the image below.
“Starting with this burn, Binance will relinquish the BNB tokens allocated to the Binance team and contribute this BNB towards our commitment to burning a total of 100 million BNB,” – was mentioned in the exchange.
At the moment, the total amount of BNB tokens is 189 million, which means that according to the plan they will have to burn another 89 million tokens. First, the team will burn 80 million BNBs, and the last 9 million BNBs will be burnt through the Binance exchange.
This is done to reduce token inflation and increase their value in the future. Binance is a successful and profitable company, even despite the recent hack.
We want to remind:
The Updated Platform Binance 2.0 Began to Support Margin Trading
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- Read full article on: The Coin Shark
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