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BNB Price Surges 3% After Binance’s 25th Quarterly Burn of 2.14 Million Tokens
Binance successfully carries out its 25th quarterly token burn, destroying 2.14 million BNB tokens valued at $453 million.Following the token burn, BNB’s market price saw a 3% surge within 24 hours.
A Closer Look at the BNB Burn Phenomenon
Binance, the world’s predominant cryptocurrency exchange, recently celebrated its 25th quarterly BNB token burn. The event was championed by Binance’s CEO, Changpeng “CZ” Zhao, who proudly shared the accomplishment with the crypto sphere. As of October 16, a considerable 2.14 million BNB tokens, equivalent to a staggering $453 million, were removed from circulation, as corroborated by the BNB burn portal. This significant burn sparked immediate reactions from traders, with the BNB token value escalating by 3% within a day.
Decoding the Binance Token Burn Strategy
Binance’s dedication to reducing its token’s circulating supply is evident from its systematic quarterly burns. The 25th iteration saw 2.139 million BNB tokens taken out via the BNB Auto-Burn process. Notably, this count also incorporated 314.69 BNB tokens destroyed through the Pioneer Burn Program.
A broader perspective reveals Binance‘s ambitious objective: to limit BNB’s circulating supply to under 100 million. As of now, the active circulating supply is poised at 151,705,885 BNB. Their long-term strategy? The BNB Auto-Burn procedure, which has thus far incinerated a total of 50.29 million BNB tokens.
To newcomers, the term “burn” might sound ambiguous. In the crypto domain, token “burning” refers to the intentional removal of tokens from circulation, which can often lead to an appreciation in the token’s value due to decreased supply. Binance employs a meticulous Auto-Burn protocol, which calculates the quantity of BNB to be destroyed based on the token’s price and the blocks produced on the BNB Smart Chain (BSC) over the quarter.
⚠️Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Binance #BNB $BNB
A Closer Look at the BNB Burn Phenomenon
Binance, the world’s predominant cryptocurrency exchange, recently celebrated its 25th quarterly BNB token burn. The event was championed by Binance’s CEO, Changpeng “CZ” Zhao, who proudly shared the accomplishment with the crypto sphere. As of October 16, a considerable 2.14 million BNB tokens, equivalent to a staggering $453 million, were removed from circulation, as corroborated by the BNB burn portal. This significant burn sparked immediate reactions from traders, with the BNB token value escalating by 3% within a day.
Decoding the Binance Token Burn Strategy
Binance’s dedication to reducing its token’s circulating supply is evident from its systematic quarterly burns. The 25th iteration saw 2.139 million BNB tokens taken out via the BNB Auto-Burn process. Notably, this count also incorporated 314.69 BNB tokens destroyed through the Pioneer Burn Program.
A broader perspective reveals Binance‘s ambitious objective: to limit BNB’s circulating supply to under 100 million. As of now, the active circulating supply is poised at 151,705,885 BNB. Their long-term strategy? The BNB Auto-Burn procedure, which has thus far incinerated a total of 50.29 million BNB tokens.
To newcomers, the term “burn” might sound ambiguous. In the crypto domain, token “burning” refers to the intentional removal of tokens from circulation, which can often lead to an appreciation in the token’s value due to decreased supply. Binance employs a meticulous Auto-Burn protocol, which calculates the quantity of BNB to be destroyed based on the token’s price and the blocks produced on the BNB Smart Chain (BSC) over the quarter.
⚠️Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Binance #BNB $BNB
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Binance Announcement
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New Dual Investment Products Launched (2023-10-17)
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance has launched a new batch of Dual Investment products with updated Target Prices and Settlement Dates, where users can utilize our Sell High or Buy Low products.
Subscription format: First-come, first-served basisCheck out the new Target Prices and Settlement Dates in the link below
Earn Rewards With Dual Investment!
Dual Investment provides access to Buy Low and Sell High products with your selected price at your selected date in the future, without any fees. Subscribe to Dual Investment products to enjoy rewards on a selection of popular cryptocurrencies.
SELL HIGH
Target Users:
Users who want to accumulate high rewards on the cryptocurrency holdings, or Users who want to sell the Deposit Currency for a higher price in the future, compared to the market price on the subscription date
Deposit CurrencySell ForSettlement DatesETHBTC2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-292024-01-262024-02-232024-03-29BNBBTC or ETHBTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE or LTCUSDTBUSD2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-29
BUY LOW
Target Users:
Users who want to accumulate high rewards on stablecoin holdings, or Users who want to buy a cryptocurrency for a lower price in the future, compared to the market price on the subscription date
Deposit CurrencyCryptocurrency to BuySettlement DatesBTCETH or BNB2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-292024-01-262024-02-232024-03-29ETHBNBUSDTBTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE or LTCBUSD2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-29
How to Get Started with Dual Investment:
Go to the Dual Investment page.Select the cryptocurrency you would like to buy or sell.Choose whether you want to “Sell High” or “Buy Low”.Select your desired price (“Target Price”) and desired date (“Settlement Date”) to buy or sell.Input your subscription amount.Choose to enable or disable the Dual Investment Auto-Compound feature with the toggle button and complete the subscription.
Do check out the Dual Investment Beginner Mode to get a step-by-step guide through the subscription process for Dual Investment products.
More information about Dual Investment, including a glossary and detailed calculation methodology, can be found here.
Notes:
Dual Investment may stop accepting new subscriptions at any time.APR will change in real-time depending on market fluctuation before the subscription, but will be locked in once the subscription is confirmed.Dual Investment products cannot be redeemed before the Settlement Date. Deposit Currency refers to the currency used to subscribe to a Dual Investment product.Settlement Date refers to the date on which transactions and redemption will take place.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-10-17
Fellow Binancians,
Binance has launched a new batch of Dual Investment products with updated Target Prices and Settlement Dates, where users can utilize our Sell High or Buy Low products.
Subscription format: First-come, first-served basisCheck out the new Target Prices and Settlement Dates in the link below
Earn Rewards With Dual Investment!
Dual Investment provides access to Buy Low and Sell High products with your selected price at your selected date in the future, without any fees. Subscribe to Dual Investment products to enjoy rewards on a selection of popular cryptocurrencies.
SELL HIGH
Target Users:
Users who want to accumulate high rewards on the cryptocurrency holdings, or Users who want to sell the Deposit Currency for a higher price in the future, compared to the market price on the subscription date
Deposit CurrencySell ForSettlement DatesETHBTC2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-292024-01-262024-02-232024-03-29BNBBTC or ETHBTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE or LTCUSDTBUSD2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-29
BUY LOW
Target Users:
Users who want to accumulate high rewards on stablecoin holdings, or Users who want to buy a cryptocurrency for a lower price in the future, compared to the market price on the subscription date
Deposit CurrencyCryptocurrency to BuySettlement DatesBTCETH or BNB2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-292024-01-262024-02-232024-03-29ETHBNBUSDTBTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE or LTCBUSD2023-10-242023-10-272023-11-032023-11-102023-11-242023-12-29
How to Get Started with Dual Investment:
Go to the Dual Investment page.Select the cryptocurrency you would like to buy or sell.Choose whether you want to “Sell High” or “Buy Low”.Select your desired price (“Target Price”) and desired date (“Settlement Date”) to buy or sell.Input your subscription amount.Choose to enable or disable the Dual Investment Auto-Compound feature with the toggle button and complete the subscription.
Do check out the Dual Investment Beginner Mode to get a step-by-step guide through the subscription process for Dual Investment products.
More information about Dual Investment, including a glossary and detailed calculation methodology, can be found here.
Notes:
Dual Investment may stop accepting new subscriptions at any time.APR will change in real-time depending on market fluctuation before the subscription, but will be locked in once the subscription is confirmed.Dual Investment products cannot be redeemed before the Settlement Date. Deposit Currency refers to the currency used to subscribe to a Dual Investment product.Settlement Date refers to the date on which transactions and redemption will take place.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-10-17
LIVECZ
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Cost of Mining Bitcoin Increasing
#Bitcoin hashrate just hit a new record high (ATH). The cost of mining bitcoin has increased. With the Halving coming in 5 months, meaning the supply rate will further reduce by 50%. Ie, cost of producing bitcoin will further increase.
While the cost of producing something should not dictate its price, but most miners will not want to sell their newly mined bitcoins below cost.
What do you think will happen?
While the cost of producing something should not dictate its price, but most miners will not want to sell their newly mined bitcoins below cost.
What do you think will happen?