Apr 1, 2021
About BNB coin
🔸 Binance is a giant infrastructure that provides crypto users with a wide range of services: CEX exchange, DEX, futures trading, staking, saving, etc.
The digital fuel for the entire Binance ecosystem is BNB coin, which allows you to:
- Save on commission fees
- Earn for storing assets
- Participate in investment products and projects
🔝 Today, BNB takes the 3rd place in terms of capitalization ($55 billion). BNB Price: $323
Capitalization = total coin issue * asset price
Initially, BNB was launched on Ethereum blockchain in 2017, before the launch of Binance exchange. But in April 2019, BNB emigrated to its own Binance Chain blockchain 🔍
The launch of Binance Smart Chain allowed the use of BNB in smart contracts, which we will see in FORSAGE soon.
Quarterly BNB burn 🔥
Each quarter, Binance makes BNB buyback. They spend 20% of the profits for buying BNB tokens, which are subsequently burned, thereby reducing the circulation supply.
Quarterly BNB burn will occur until the emission is reduced by 2 times to 100 million BNB.
▶️ Initial total supply: 200,000,000 BNB
▶️ Total supply now: 170,532,785
There has already been 14 quarterly BNB burn. For example, the last time on January 20, 2021, 3,619,888 BNB were burned ($165,791,000 at the time of incineration).
🔜 Another BNB burn is expected in April 2021.
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