There has been a really awesome pump in the BNB price so far. But still it is not at a level that I expected. While we are seeing ETH reaching new ATHs over and over again, I expect BNB price to do similar things also. But I believe that its next price boom is imminent also. I expect it to reach $1k this year.
Raise above $1,000 maybe easy for BNB coin and now have close with $700, how ever without any bad news from bitcoin maybe have good thing for BNB coin can raise to higher price. I think BNB raise above $2,000 maybe on two months later and have great chance with new promotion by CZ, but keep waiting will bitcoin have correction price or not because many time when bitcoin down all altcoin keep going down. 
Topic: 1 Million BNB Burnt today (Read 810 times)
There has been a really awesome pump in the BNB price so far. But still it is not at a level that I expected. While we are seeing ETH reaching new ATHs over and over again, I expect BNB price to do similar things also. But I believe that its next price boom is imminent also. I expect it to reach $1k this year.
BNB coin is a type of ERC-20 token that runs on the Ethereum blockchain and has been launched since 2017 by Binance Exchange. BNB is different from ETH, which has Burn Coin feature. The goal is to maintain price stability in the market. This is done bnb every quarter.
I recognize BNB's tremendous performance but personally feel it is momentary, I believe it has enjoyed known issues in ethereum in a bullish market.
I think even supply reduction procedures will fail to stabilize the value
Hey,
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
If you are not aware of this, Binance today burnt 1 Million BNB worth $500 Million dollars. What is the expected price jump in BNB due to this?
Would love to know your feedback
I like with the Binance project roadmap that burns coins every 3 months, but how long, it seemed like only CZ knew.
Coin burning feature usually done to reduce deflation and increase the price of coins along with a decrease in the number of supply coins, in the future we will likely see BNB prices reach $1k or $2k as more and more new projects will require BNB to be able to use Binance Smart Chain.
BNB coin is a type of ERC-20 token that runs on the Ethereum blockchain and has been launched since 2017 by Binance Exchange. BNB is different from ETH, which has Burn Coin feature. The goal is to maintain price stability in the market. This is done bnb every quarter.
More burn gives rise to more price pump because the supply will reduce, however I would say that in most cases coin/token burn do not have any positive impact on the price and this is seen in cases where the project in question is not a strong one. But for a platform like Binance where the CEO is an expert in bringing more features, even at the mention of the BNB burn it drives a little fomo or hype which then results to price increase.
Before now, many platforms used to leverage on this token burn to pump their token price but since they do not have what it takes to grow or lacks good use case, the token burn ends up not having any positive impact. Lastly, buying a coin just because of token burn is not really a good idea in many cases, unless the coin/token in question is really a good one like BNB.
Before now, many platforms used to leverage on this token burn to pump their token price but since they do not have what it takes to grow or lacks good use case, the token burn ends up not having any positive impact. Lastly, buying a coin just because of token burn is not really a good idea in many cases, unless the coin/token in question is really a good one like BNB.
I think burning coin is good and worth how to make price pump but you need to check beside of burning coin developer of BNB unlock billion coin, maybe is not all people know with this way because not publish and give positive side exactly BNB burning. You need to check how much BNB supply before and after burning, if you see supply deduct is real burning but without deduct and have the same supply BNB have make unlock coins.
The aim of this burning, in my opinion, is to decrease the availability of their tokens in the market and promote the process of raising the price of BNB. Of course, this is a positive thing to do in order to change the amount of coins in the market, as the decreased supply of tokens would raise demand. Many people are familiar with BNB, as it is one of the most common crypto currencies. The current value of BNB leads me to conclude that it will continue to be useful for a long time. The factor that makes us enjoy it is the fact that its worth rises. This will undoubtedly become a well-known and in-demand coin in the crypto industry.
We have more examples coins are pumps after some millions coins has been burned and Same thing Will be applied to BNB also but there is more chance to BNB coins because the BSC and other things are helping more i hope BNB will be reach 1k soon.
I think what you expect by increasing the price of BNB will definitely happen, but we are just waiting for the right time for the price of BNB to continue to increase. from several media that I have read that the BNB is working hard to provide security for its users and the BNB is working to continue to increase the price of its tokens. therefore I believe the BNB will be better for the future.
Token burn in theory should lead to an increase in price of the token due to a decrease in supply, however i font think this has always have an immediate impact on price as we all anticipate
In the long term there will definitely be a price move in correlation to this burn, but i really dont see it happening in the short term
In the long term there will definitely be a price move in correlation to this burn, but i really dont see it happening in the short term
It's the same, when people make more and more people look for BNB, at that time the price of BNB is getting higher, meaning that BNB is getting rarer, the price is getting higher. that's why my statement on the thread above which says their goal of burning 1 million bnb is to increase the price.
The logic is like that, after the combustion process is carried out, the supply of BNB will decrease in the market and become increasingly scarce. In the coming months we'll see a new BNB hype, I am very confident with BINANCE coupled with the increasing development of BSC. BNB is one of the best crypto assets to be reckoned with, Moreover, after the burning is done we will soon see BNB reaches new ATH.
I would rather think that this sudden increase, from 460's to almost 600's is due to the BAR (Barcelona) token which will be tradable today at 13:00 pm.
But BNB future is still bright, I believe also it will reach the 1000's by end of this year, it's a strong project.
But BNB future is still bright, I believe also it will reach the 1000's by end of this year, it's a strong project.
The burn is already done? Why is the price keeps dropping then?
Burn has been done and prices are still going down. You should be aware that we all don't know when Binance buy back tokens to burn. So even though currently the token has been burned, it will not affect the price.Because it could be that yesterday BNB went up high is the effect of the buyback
Binance is an altcoin that has great prospects in the future, especially now that they have burned approximately 1 million BNB, of course this is a very positive breakthrough, because with the reduced supply of BNB, the price of BNB will be able to increase in the future, hopefully This burning can provide new hope for BNB to continue to compete with ETH,
I don't know if you can call staking and Defi and NFT thing as real life usage. When the hype for NFTs die down, when Defi becomes possible for cheap again on a more secure and more decentralized network (ETH 2.0) I can't see where else Binance can go.
Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.
Today, the main problem with Ethereum is high fees, and in the near future the situation can really change for the better. Defi may not be as active and therefore the throughput of Ethereum will increase again, and after the final phase 2.0, the developers promised to reduce commissions. In addition, some of the commissions will be ignited, and this, in any case, will have a positive effect on the pricing of Ethereum.Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.
It's kind of the only real problem that anyone else understands too, actually. You could argue that PoS is also a security issue but most users, myself included, feel that ít's secure enough to trust. Also the old problems of decentralization we feel are partially taken care of.
As I said, and yeah, once defi loses hype people return to what they know and trust is decentralized. That means ETH enjoys the dapps coming home.
Probably, I will express my humble opinion here. Binance, as a separate commercial project, is a very successful enterprise and with its multi-financial functions it attracts a lot of new users. So why am I saying all this ... perhaps if someday there is a global fall in the entire market, it will be directly through problems with the Binance robot. I am afraid that in case of some irreparable problems with the exchange, the market will simply suffer a huge collapse...This must always be remembered.
Do not think that I am causing panic. I just want to discuss this topic;)
Do not think that I am causing panic. I just want to discuss this topic;)
~
Binance's routine agenda is to reduce the supply of their tokens in the market to support the increase in the price of these tokens. As for after the burning was carried out, the price of the BNB was lower again due to market correction and the price increased again after the market correction occurred, the investment in BNB was very profitable.
I think the main objective is not to increase the price. This is a market control that the Binance developers are doing very well by creating a BNB coin that people will always be looking for.Binance's routine agenda is to reduce the supply of their tokens in the market to support the increase in the price of these tokens. As for after the burning was carried out, the price of the BNB was lower again due to market correction and the price increased again after the market correction occurred, the investment in BNB was very profitable.
they created BNB with the condition that there will always be an increase in adoption in the future. Their developers are really very smart already planning their market very well.
because for those who know the potential of BNB. then 2-3 years ago. they would never sell BNB at such a low price.
It's the same, when people make more and more people look for BNB, at that time the price of BNB is getting higher, meaning that BNB is getting rarer, the price is getting higher. that's why my statement on the thread above which says their goal of burning 1 million bnb is to increase the price.
They’re only burning approx 1.3 million out of a supply of approx 170 million, not even 1% I doubt it’ll make much difference
burn is term for some coins are lost forever and stored in a cold wallet! any crypto produce an virtual gas that get burned within transaction! but do not confuse burn with denomination! these are very different !
burn is term for some coins are lost forever and stored in a cold wallet! any crypto produce an virtual gas that get burned within transaction! but do not confuse burn with denomination! these are very different !
I don't know if you can call staking and Defi and NFT thing as real life usage. When the hype for NFTs die down, when Defi becomes possible for cheap again on a more secure and more decentralized network (ETH 2.0) I can't see where else Binance can go.
Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.
Today, the main problem with Ethereum is high fees, and in the near future the situation can really change for the better. Defi may not be as active and therefore the throughput of Ethereum will increase again, and after the final phase 2.0, the developers promised to reduce commissions. In addition, some of the commissions will be ignited, and this, in any case, will have a positive effect on the pricing of Ethereum. Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.
BNB is trading near 0.0092 BTC right now and I guess that has become possible because of continuous burning process. They already got real life usage for BNB coin and they are regularly emphasizing about holding BNB coins for VIP status for the traders whoa re active in binance exchange and when they are doing multiple methods to get more value for BNB then I guess it will someday beat ethereum at least in BTC values (currently ethereum is trading near 0.04BTC which is 4x more than BNB) if you are calculating marketcap is something completely different one.
I don't know if you can call staking and Defi and NFT thing as real life usage. When the hype for NFTs die down, when Defi becomes possible for cheap again on a more secure and more decentralized network (ETH 2.0) I can't see where else Binance can go.
Again, I've been proven wrong by Binance time and again so let's see and find out in 2022 where BNB is.
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