Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of Mars Finance
Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of Mars Finance.
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Article source: Xu Zhihong
Two years ago today, October 15, 2017, Coin An carried out its first BNB destruction plan, destroying 966000 BNBs for the first time at a price of only $1. However, this destruction of BNBs successfully ignited the platform currency market and affected the exchange competition pattern for the next two years. Today's podcasts are all air podcasts, let's talk about the destruction of BNB. Please listen to the recording:
The burning BNB comes from all air 00:0005:41
The Relationship between BNB Destruction and Currency Price Trends
According to the white paper released in 2017, Coin An promised to use 20% of quarterly profits to repurchase and destroy BNB. By July 12th of this year, eight quarterly repurchases had been completed, with a total of 12.463 million BNBs destroyed, valued at approximately $160 million.
Each buyback by Coin An is highly anticipated, and the quarterly profit of Coin An can be calculated from the buyback amount (quarterly profit=buyback amount/20%), giving a glimpse of the profitability of this so-called "world's number one exchange".
986000 BNB destroyed on October 15, 2017
BNB price $1.01, quarterly profit of $5 million
Destroyed 1.821 million BNB on January 15, 2018
BNB price $1934, quarterly profit of $186 million
Destroyed 2.22 million BNB on April 15, 2018
BNB price $13.1, quarterly profit of $129 million
Destroyed 2.528 million BNB on July 15, 2018
BNB price $1286, quarterly profit of $152 million
Destroyed 1.643 million BNB on October 15, 2018
BNB price $10.23, quarterly profit of $86.8 million
On January 15, 2019, 1.623 million BNB was destroyed
BNB price of $6.09, quarterly profit of $47.1 million
Destroyed 829000 BNB on April 15, 2019
BNB price $19.64, quarterly profit of $78.85 million
Destroyed 808000 BNB on July 15, 2019
BNB price of $31.89, quarterly profit of $119 million
Today is October 15th, and BNB's ninth destruction of data will be announced. I am here to initiate a vote to guess whether the profit of Coin An in the ninth quarter can exceed the previous quarter's $119 million, and to predict how it will affect BNB prices within 24 hours.
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