Exchange giant Binance conducted its 15th BNB destruction today, burning nearly 1.1 million tokens worth over $595 million, making it the largest one
Exchange giant Binance conducted its 15th BNB destruction today, burning nearly 1.1 million tokens worth over $595 million, making it the largest one. In addition, yesterday, Coin An postponed the listing of the equity token COIN on the largest exchange in the United States, Coinbase, and ultimately began trading smoothly on the same evening.
According to official announcements, cryptocurrency giant Anben completed its 15th platform currency BNB burn on the afternoon of the 16th, destroying nearly 1.1 million tokens this quarter, reducing supply to 169 million, with an estimated total value of over $595 million, making it the highest BNB burn in US dollar history.
Coin An CEO Zhao Changpeng (CZ) also tweeted today: "Imagine burning 500 million US dollars, wait, don't think about it. This is true
When Coin An issued BNBs in 2017, it promised to implement a burning plan every quarter until a total of 100 million BNBs were destroyed, which is half of its supply. The amount of BNBs burned each quarter is calculated based on the trading volume on Coin An within three months.
According to TheBlockResearch, currently, Coin An has burned 15.3% of the total supply.
What do you think of the BNB skyrocketing CZ?
It can be seen from the announcement of Coin Security that the BNB burned relatively little this time, but its value was the highest, precisely because the coin price has been soaring recently.
According to TradeView data, BNB has risen from $36 at the beginning of this year to $302 by the end of March, a growth rate of over 738%; This week, it reached a new high of $638 and has risen more than 16 times since the beginning of the year.
CZ also shared his views on this in the announcement of BNB burning. He admitted that it is difficult to define the key factors driving BNB price increases, but there are several particularly important points to consolidate as follows:
- The community and Coin Security team have been persistently building in the past three and a half years;
- The rise of the DeFi field and the prosperity of the Coin Security Intelligent Chain (BSC) ecosystem;
- Coinbase goes public;
- The overall development of the cryptocurrency industry;
- The majority of users' support for the Coin Security ecosystem (this is the most important)
CZ also mentioned the rapid ecological development of BSC this season.
He pointed out that as of April 8th, the daily trading volume on the BSC chain could reach 4.9 million transactions, which is four times the highest in Ethereum's history; And in the first quarter, BSC's number of dApp wallets increased by 639%, with an average daily active wallet address of 105000. Looking at the entire industry, the daily active wallet address volume was only 458000.
BNB Burnout Scale per Season | Source: TheBlock
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