Binance Burns $165 Million Worth of BNB Tokens

Binance Burns $165 Million Worth of BNB Tokens
фото показано с : cryptobriefing.com

2021-1-20 02:11

Binance has completed its 14th quarterly Binance Coin (BNB) burn, according to CEO Changpeng Zhao.

Burns Will Accelerate

A total of 3,619,888 Binance Coin (BNB) have been burned, an amount worth $165.8 million. That makes this Binance’s largest burn to date. In the aftermath of the burn, the total supply of BNB has decreased from 174.2 million BNB to 170.5 million BNB.

This burn also makes the beginning of a faster burn rate. Under the current burn rate, it will take Binance only 5 to 8 years to achieve this goal, though the rate may change in the future. The downside of this accelerated burn is that users will not be able to use the burn number to determine Binance’s revenue.

Under the previous burn rate, it would have taken Binance 27 years to complete its goal of burning half the BNB supply and bringing the total supply down to 100 million BNB.

Tokens Will Also Be Unlocked

Zhao also stated that Binance has unlocked 16 million BNB tokens. These tokens were supposed to be unlocked in July 2020 and moved into Binance’s team allocation address, but the team forgot to do so.

Zhao added that not a single token from the team allocation has been sold or moved at any time. The tokens “were unfrozen, and transferred to publicly viewable addresses, [and] never moved beyond that, other than being burned,” Zhao said.

Presumably the unlocked tokens will be destroyed in a future burn.

Binance originally announced plans to burn its entire team allocation in July 2019. That decision is meant to reassure users that Binance aims to increase the utility of BNB, not just profit from it.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 41.31 (-100%)

bnb tokens worth million burns 165 binance

Источник: cryptobriefing.com

bnb tokens → Результатов: 110


Фото:

Binance Unveils Vault Allowing Users To Earn 5-8% Annual Interest On Staked BNB Tokens

Binance cryptocurrency exchange has announced the launch of BNB Vault, an investment product that allows users to stake their BNB and earn 5-8% annual interest. BNB Vault is a yield aggregator that lets users put their BNB tokens to work by utilizing the exchange’s wide array of financial products including DeFi staking, Flexible Savings, and […]

2020-11-4 09:33


Brazilians Are Moving Towards Dollar-Pegged Stablecoins As Alternatives to the Ailing Economy

Brazil is moving to dollar-backed stablecoins as the country's economy continues to ail coupled with the looming uncertainty on its increasing COVID-19 cases. According to a Binance Brazil Representative, Mayra Siqueira, stablecoin traders have quadrupled since the year began with the USDT and BNB tokens dominating the market.

2020-7-9 16:09


Binance анонсировала эирдроп токенов JEX

Биржа криптовалют Binance вчера раскрыла план эирдропа токенов торговой платформы JEX, владельцем которой она недавно стала. #Binance Launches $JEX Token Airdrop Program For All $BNB Holders The initial airdrop will be for 200,000,000 JEX tokens, currently valued around $12,000,000 USDhttps://t.

2019-9-6 10:09


Wirex WXT Token Launches with Emphasis on User Rewards Rather than Fundraising Method

Many private firms have launched their own native tokens for a number of reasons such as giving their customers access to certain services and as a means of fundraising through ICOs and so on. Everyone from cryptocurrency exchanges such as Binance who launched their native BNB token to large banks such as JPMorgan announcing their […]

2019-6-16 21:06


дальше еще 61 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

BNB price soars to new all-time high; market cap exceeds $100 billion

BNB price hit a new all-time high of $716 on Wednesday. The Binance Coin’s market cap surpassed $100 billion, with trading volume reaching $3. 5 billion. BNB, the native token of the Binance ecosystem, has skyrocketed to a new all-time high, with its marlet cap rising to over $100 billion.

Binance Coin (BNB) Surges 86% In One Month, Nears All-Time High

In the realm of cryptocurrency, Binance Coin (BNB) has been making waves, experiencing a remarkable surge of over 86% in the past month. With its recent climb to $631, BNB is inching closer to reclaiming its previous all-time high of $690, demonstrating its resilience and bullish momentum in the market. […]