$400 Million Worth of BNB Burns By Binance Exchange, No Surge In Price Seen

Binance burned $400 million worth of BNB coins. The number of BNB coins that they burned this time is more than Last burn.

Binance is the biggest crypto exchange of the world by volume and it continuously follows their WhitePaper at their best. According to the schedule of BNB coin burn quarterly, they burned.

By following the schedule to burn BNB coins, the exchange burned a total 1,296,728 BNB and its worth is around $393,673,653. 

Last time in April they burned BNB of worth around $600 million but the number of BNB coins that they burned in April was less than what they burned in this month. 

When exchange burned BNB in April then price of BNB coin surged much but this time price is not showing any increment. It is calm, may be it is because of the situation of the current cryptocurrency market. 

Binance exchange uses a new scheme of burning the token. And also they claimed that they can’t reverse this process by any reverse engineering technique. And also they claimed that their team had never used/collected those burned tokens. They are only following the WhitePaper schedule to remain ideal at their work.

Changpeng Zhao, the CEO of the exchange, also said that they unlocked 16 million BNB coins according to the schedule of their WhitePaper. They are not using it for their own purposes. 

Changpeng Zhao stated to remind their ideality of work so that people don’t get into any doubt, said

“team has never used or sold a single team BNB thus far, only burned them.”

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