The world’s largest cryptocurrency exchange by 24-hour traded volume Binance has completed the fourth quarterly burn of its Binance Coin (BNB).
On 16th, CEO Changpeng Zhao tweeted that Binance is preparing for another coin burn conducted in accordance with the company’s whitepaper:
“@binance is doing a final tally on the numbers, and will announce our 4th quarterly burn in the next day or so, and finish the burn within a couple days after that. Thank you for your patience and support!”
@binance is doing a final tally on the numbers, and will announce our 4th quarterly burn in the next day or so, and finish the burn within a couple days after that. Thank you for your patience and support! pic.twitter.com/ulWfHeUGbb
— CZ (not giving crypto away) (@cz_binance) July 16, 2018
The fourth quarter token burn was completed on 18 July as reported by Binance. This is the sizable coin burn on record as 2,528,767 BNB worth about $ 30,000,000 were burned.
#Binance Completes 4th Quarter Token Burnhttps://t.co/pw8WI6xpXT pic.twitter.com/O0sNeGQfex
— Binance (@binance) July 18, 2018
After the latest coin burn, the supply of Binance Coin (BNB) sums up around 114 million. According to CoinMarketCap, the token is traded at $12.88, down 5.80%.
For almost one year of activity, Binance Coin (BNB) managed to rank among the top 20 most traded cryptocurrencies, earning a $ 500 million profit from commissions. The parent company Binance continues to be one of the most important players in the crypto environment, especially due to its adoption of USDT wallet within the platform as Tether is becoming increasingly accepted.
The cryptocurrency exchange Binance continues to lead the crypto ranking with a 24-hour trading volume of $1,818,702,771, according to CoinMarketCap.