Giant Bitcoin Exchange Binance Burned Record Volume BNB.
In this case, 3,477,388, or $ 60 million, BNB was permanently removed from circulation. The stock exchange announced the burning of the BNB coin with the following tweet:
🔥 3,477,388 BNB gone forever.
🔥 $60.5M USD value
"I am more certain about the future of crypto than ever." – Read @cz_binance's recap of the last 3 years, and plans for the future. ⬇️
— Binance (@binance) July 18, 2020
The largest amount of coin burning ever seen
It is noteworthy that the amount of BNB burned exceeded 3,373,988 BNB in the 11th BNB burn in April . It is also important that this coin burning is close to Binance‘s third year celebration.
Changpeng Zhao, CEO of the Stock Exchange, announced that the anniversary is particularly special for him and his team:
“WHILE CELEBRATING OUR THIRD YEAR AS BINANCE; I CAN NOT BE PROUD OF SEEING HOW MUCH OUR TEAM HAS BEEN WORKING TO OVERCOME ADVERSITY IN THE PAST 3 YEARS, NOT IN TERMS OF OUR SUCCESS. THIS IS THE PART THAT MOST PEOPLE DON’T SEE: OUR TEAM HAS WORKED HARD TO MAKE MANY CHALLENGES A CHANCE. ”
How about Binance Coin (BNB)?
According to Binance Coin’s (BNB) daily chart, BNB appears to be in the middle of a retreat. This happened after BNB reached a local $ 19 peak.
A closer look at the BNB / USDT table gives the following items:
- The trading volume marks the retreat mentioned earlier and is in red.
- MACD and MFI also point to a fix.
- The 50-day, 100-day, and 200-day moving averages provide sufficient support between $ 16.70 and $ 16.40.
Binance’s team has made the biggest incineration by burning approximately $ 60 million worth of BNB to date. It also happened when Binance celebrated its 3rd year, so a rally for BNB was triggered in the crypto markets. Binance Coin (BNB) has reached a local peak of around $ 19 and looks ready to experience a retreat in the coming days.