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Binance BNB: A Bridge Connecting the Binance Ecosystem and Empowering the Global Crypto Asset IndustryIn the first quarter of 2020, Binance burned 3.37 million BNB, valued at $52

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Abstract: BNB is actively undertaking the opening-up strategy of Coin An, becoming a bridge for the Coin An ecosystem.Image sourced from the internetOn April 18th, Coin An completed the BNB destruction work in Q1 2020, destroying a total of 3.37 million BNBs worth $52.47 million. The number of destroyed BNBs increased by 52% compared to the previous quarter and 306% compared to the same period last year. 3.37 million BNB, also setting a historic high for the quarterly destruction of Coin An.According to the mechanism of "destroying 20% of quarterly profits" by Coin An, it can be inferred that:In the first quarter of 2020, the profit of Coin An was 262 million US dollars, approximately 1.85 billion RMB.Among them, it is particularly important to pay attention to changes in the market environment. Under the impact of the epidemic, global production and life have stagnated, consumption levels have fallen to freezing point, and financial markets are filled with lamentations. The U.S. stock market has four circuit breakers in 10 days, and the yield of the 10-year U.S. treasury bond bond hit 0.4%, a new 150 year low. Gold with its own risk aversion attribute was sold due to the lack of liquidity. The cryptocurrency market has also suffered a bloodbath, with Bitcoin almost halving and falling below $4000 in the short term.The global economic performance showed a significant decline in the first quarter. China's GDP in the first quarter of 2020 decreased by 6.8% year-on-year, and the overall performance of the US banking industry was poor. JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Morgan Stanley, and Goldman Sachs' net profit in the first quarter decreased by 69%, 45%, 46%, 89%, 30%, and 46% year-on-year, respectively.The epidemic has not seen a turning point, and no one can say the market changes in the second quarter. However, in the crypto asset industry, Bitcoin is rapidly recovering from the epidemic and regaining its position at $7000. As the seventh largest crypto asset market in the world, BNB has not only withstood the impact of the epidemic but also demonstrated strong resilience by connecting the entire crypto security ecosystem network, ultimately presenting a "quarterly report" that exceeded industry expectations.Exploring the underlying reasons may largely fall on the series of actions taken by Coin An to "build a complete ecological chain and empower BNB".Coin An's "Open" WorldviewAs a leading enterprise in the field of encrypted assets, Coin An has been pondering how to use its global advantages to connect the upstream and downstream of the industry, so that the value of BNB can flow along the industry chain and ultimately affect the long tail users of the industry.CoinMarketCapCMCCoin An's "Open" Worldview