Topic: 14th BNB Burn (Read 218 times)
That is actually good for Binance platform and the BNB holders. Token burn tends to have a positive effect on the price of the coin or token if the coin is one with attractive use case and once that is in place, once the burn method is announced, the price pumps significantly and depending on the type of coin, the price will really go high. On the other hand, many platforms always announces token burn but yet no significant changes in price of their token will be seen because users or investors already knows that the platform is not worthy of their attention and money. Now in the case of a coin like BNB, It is a wonderful case, that is, Binance exchange is already the top exchange in the crypto space, the team are very efficient and therefore with BNB burn, the price will really go high.
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
The burn means binance was using some of its profits to bought the coins from the market. That being said if that will give at least a small impact to the price of coins. As far as i know that the binance was also regularly doing this since it was being launched on crypto market.
A point on this is that burning means reducing the number of the coin in the market. If this is done, there will be limited coins to buy from. With that demand will rise for the coin because supply may not get to the level demand and price gives moving up.
Binance team are fully commit to burn the supply in time, and that’s why BNB made a new all time high again and I’m sure the up trend is not end yet, the result will start in a few days.
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
The burn means binance was using some of its profits to bought the coins from the market. That being said if that will give at least a small impact to the price of coins. As far as i know that the binance was also regularly doing this since it was being launched on crypto market.
A point on this is that burning means reducing the number of the coin in the market. If this is done, there will be limited coins to buy from. With that demand will rise for the coin because supply may not get to the level demand and price gives moving up.
Are you buying or have you bought?
Would be a good time to buy and increase my portfolio but sadly, due to the current economic condition and all the bills I have to pay, I sold my BNB. And after reading all this stuff and hypes, it seems I forgot why is BNB created and why it will surge in price. Anyone care to tell me what is the usage of BNB in real life again?
CZ announced earlier that the 14th burning of BNB will commence in 48 hours but there is no details yet as to how many coins will be burned this time. The market has reacted quite positively (again) with the announcement as you can see in the 24H price increase.
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Are you buying or have you bought?
Burning of tokens is a bullish event always especially for a high utility token like bnb because circulating supply gets lowered that can obviously push the price higher. source
Are you buying or have you bought?
CZ announced earlier that the 14th burning of BNB will commence in 48 hours but there is no details yet as to how many coins will be burned this time. The market has reacted quite positively (again) with the announcement as you can see in the 24H price increase.
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Are you buying or have you bought?
source
Are you buying or have you bought?
CZ should start pumping BNB in such a market, it is clearly undervalued right now (look at the price of Ethereum!). I think BNB should break back into the top 6 coinmarket, which means that the upcoming burning of tokens should help it in this.
Now the exchange tokens are at their best, BNB is far behind the trend and has the ability to make x2-x3 in dollars from the current price.
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
It makes a difference in the supply, the lesser the coin get the higher the demand and value, bnb is already high in price and the occasional burning of it will reduce the number of bnb in circulation and will impact on the price, this could hit $100 in the near future.
CZ announced earlier that the 14th burning of BNB will commence in 48 hours but there is no details yet as to how many coins will be burned this time. The market has reacted quite positively (again) with the announcement as you can see in the 24H price increase.
source
Are you buying or have you bought?
source
Are you buying or have you bought?
If we compare the previous BNB supply burn event I think it's not contributed much to the BNB price increased and eventually after the burn (hype) was over the BNB price still return to the previous or the same level before the Burn was not initiated, that was my own observation actually I have some BNB in my Binance account I was bought it during September. and I was hoping that the price will be doubled as it was today.
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
The Bnb burn has really set a precedent for all the deflationary token coins that are turning up now in Defi.
The value of BNB has rocketed partly due the adoption and partly due to the scarcity created by the burns .
Binance Coin (BNB) has reached new all times high slowly after there was some sentiment that pump the price.
The cause is innovation in new smart contracts, growth in the DeFi sector, and token burning, It seems that the most influential sentiment is token burn, Given the law of supply and demand, as supply decreases, prices are likely to rise.
The cause is innovation in new smart contracts, growth in the DeFi sector, and token burning, It seems that the most influential sentiment is token burn, Given the law of supply and demand, as supply decreases, prices are likely to rise.
Token burning is an issue that has an absolute positive impact on the project. Already, Binance itself is almost gonna own the market which reduces my interest in BNB. The exchange owner does not stay just like it. He creates his own coin, chain, wallet, everything. Soon, we will call the CZ market instead of the crypto market.
Not yet but this strategy knows very well by CZ. If there's not that much movement for the coin, other coin developers and owners would do the same as what he's doing.
They are getting the idea of burning and IIRC, this has become a trend of 2018-2019 for some other altcoins but didn't become successful as BNB and other known altcoins. This is the reason why it's getting a 10% increase within 24 hours and it also keeps on breaking its ATHs before.
They are getting the idea of burning and IIRC, this has become a trend of 2018-2019 for some other altcoins but didn't become successful as BNB and other known altcoins. This is the reason why it's getting a 10% increase within 24 hours and it also keeps on breaking its ATHs before.
What difference does it make when there is another burning of coins?
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^ You can say it's just a coincidence but the market loves the idea of scarcity. Less supply in circulation and sustained/increasing demand for BNB enabled the price to grow over the years. It's up to you if you if you think this is going to be another PnD.
What difference does it make when there is another burning of coins?
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^ You can say it's just a coincidence but the market loves the idea of scarcity. Less supply in circulation and sustained/increasing demand for BNB enabled the price to grow over the years. It's up to you if you if you think this is going to be another PnD.
There are many useless tokens that have no good use case but started burning off their tokens but this is different, Binance exchange team are one of a kind and of cos their token is very important too, this is the type of projects that suits the burning strategy
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
You have no idea, of all coins we are talking about BNB token here, since the beginning of bnb burning it's value have never been the same, burning off tokens that are very useful like BNB is 👍, another reason to keep holding your BNB bag I believe What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
The burn means binance was using some of its profits to bought the coins from the market. That being said if that will give at least a small impact to the price of coins. As far as i know that the binance was also regularly doing this since it was being launched on crypto market.
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
The burn means binance was using some of its profits to bought the coins from the market. That being said if that will give at least a small impact to the price of coins. As far as i know that the binance was also regularly doing this since it was being launched on crypto market.
What difference does it make when there is another burning of coins? if you can buy coins at any price now, be sure that you cannot stay in the red for the distance.
CZ announced earlier that the 14th burning of BNB will commence in 48 hours but there is no details yet as to how many coins will be burned this time. The market has reacted quite positively (again) with the announcement as you can see in the 24H price increase.
source
Are you buying or have you bought?
source
Are you buying or have you bought?
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