Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

Here's a look into the massive Binance Burn where $52.5 Million worth in tokens are out of circulation.

Notable Cryptocurrency exchange, Binance, the largest in volume transactions worldwide take effectively one more token burn taking out of circulation $52.5 million worth in BNB coins representing the most largest burn since they started to reducing the supply using this mechanism. Nearly 20 million plus tokens was burned until now representing 10.8% of total supply of 200 million tokens that have been burned and this last one represent the largest one happened in first quarter of 2020 both in dollar value also in BNB taken down by Binance.

The exchange took out of circulation 3,373,988.00 BNB tokens represent I ng $52.5 million in actually value of market making it the most largest burn in the Binance burn events as the last quarter of 2019 the burn take out almost $38.8 millions worth in BNB (2,298,888.00 tokens) as we can note in the picture below!


Image source here.

Important to note that this event Burn represent the Exchange business activity from this first quarter of 2020 where they level of domince in the market of Crypto leading exchange increased taking them to be on top of the crypto derivatives exchanges in the world. The Exchange also conducted various events in favour of combat COVID-19 in the world and supported affected countries and regions worldwide with the Binance Charity program.

It's notable to see that the Burn event not also took out BNB from circulation but also make the asset to become more scarce making it supply to reduce and probably the value will increase more in next bull run as the Bitcoin (BTC) dominance decrease opening space to crypto assets such BNB or ETH to secure their space and start exploding but that's other History.

**header free image from with royalty rights for commercial use here.

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