#CZ Could you please remove your employee who's shorting #BNB? He know nothing about trading. BNB always going dawn while all the market going up.. What an idiot employee.
#BNB going dawn? Why? All market going up. But, #BNB going dawn. Who's f*king shorting now? Why is that while market going up? Stop shorting to save your money and avoid losing.
La nouvelle est explosive : 1,6 million de BNB, soit près de 1 milliard de dollars, ont été brûlés !
🚀💥 La nouvelle est explosive : 1,6 million de $BNB BNB, soit près de 1 milliard de dollars, ont été brûlés ! Une nouvelle destruction de BNB, le jeton emblématique de l’écosystème Binance, a eu lieu. Le BNB Foundation a annoncé que ces BNB ont été transférés vers une adresse connue sous le nom de « trou noir », rendant leur récupération impossible. La fondation a brûlé 1 643 698 BNB dans le cadre de ses opérations régulières de destruction de tokens. Pour la 28e fois consécutive, cette opération trimestrielle a été effectuée, avec une valeur totale des tokens brûlés atteignant environ 971 millions de dollars. Depuis 2019, lorsque le BNB a quitté le réseau Ethereum pour rejoindre le BNB Chain, il continue à être brûlé jusqu’à ce que l’offre totale atteigne 100 millions d’unités. En fonction du prix du BNB et des réductions de blocs trimestrielles sur le réseau BSC, les tokens brûlés sont envoyés à une adresse « trou noir » de manière irréversible. En outre, le BNB met en œuvre des brûlages en temps réel via les frais de transaction, avec 234 000 tokens brûlés depuis 2021. Lors de la dernière opération de brûlage, le 24 avril, 1,9 million de BNB avaient été détruits. Au moment de la publication, le $BNB se négociait autour de 595 dollars. #Binance #$BNB #web3_binance ❤️ Like | 💬 Comment | ↪️ Share 🚀 🔥 Please follow @Coinaute e Binance Square account ! 🚀🔥 Website: coinaute.comX : Coinaute MédiaBinance Square #coinaute
#Binance recently completed its 28th quarterly #BNB token burn. This event saw the destruction of 1,643,698.8 BNB tokens, valued at approximately $971 million at the time of the burn.
BNB Foundation Completes 28th Quarterly BNB Burn 🫡My dear🫂 brother, please follow us so that you can benefit. ❤️Follow❤️ + 👍Like 👍 so we can distribute public gifts. Thank you The BNB Foundation has officially announced the successful completion of the 28th quarterly BNB token burn by BNB Chain. This latest burn event eliminated a total of 1,643,698.8 BNB tokens, valued at approximately $971 million at the time of the burn. Key Details of the Burn Auto-Burn Mechanism: The BNB Auto-Burn mechanism ensures a transparent and predictable reduction of the total BNB supply, aiming to eventually bring it down to 100,000,000 BNB. The burn amount is adjusted based on the price of BNB and the number of blocks generated on the BNB Smart Chain (BSC) during the quarter. No Contribution from Pioneer Burn Program: This quarter, there was no BNB burned from the Pioneer Burn Program, which helps users recover lost BNB and pegged tokens due to honest mistakes. Importance of BNB BNB, the native coin of the BNB Chain ecosystem, plays a crucial role in powering its Web3 environment. It facilitates transactions on the BNB Smart Chain (BSC), the opBNB L2s, and the BNB Greenfield blockchain. Beyond transaction fees, BNB serves as a governance token, enabling holders to participate in the decentralized on-chain governance of the BNB Chain. Following its mainnet launch on April 18, 2019, BNB transitioned from the Ethereum Network to the BNB Chain, embodying the "Build and Build" philosophy to foster ecosystem development ✅My brother, we copied from 💸$100 to 💵$200 and above in order to extract the best investment, my brother.💸💸💸 #Biden_Out_BTC_Up #BinanceHODLerBANANA #Bitcoin_Coneference_2024 #BinanceTurns7 #SOFR_Spike $BTC
$971 Million Worth of BNB Burned, Will BNB Price Take Off?
On Monday, the BNB Foundation announced the execution of its 28th quarterly BNB token burn. The mechanism burned over 1.64 million BNB tokens (approximately worth $971 million) in the routine process.
BNB is the native coin of the BNB Chain ecosystem that supports its Web3 ecosystem. After the mainnet launch back in 2019, the token made its transition from the Ethereum Network to the BNB Chain. The foundation utilizes the auto burn system to moderately reduce the tokens’ supply to 100 million.
1.6 million BNB tokens burnt
28th quarterly BNB token burn recorded a slight decline from the last similar event. The 27th quarterly burn report depicted that 1,944,452.51 BNB tokens (approximately worth $1.17 billion) were sent to the dead wallet forever. However, this quarter saw a burn of 1,643,698.8 BNB tokens.
The report mentioned that the foundation Auto-burn lays out an independently auditable, objective process for them. However, this burn event happened directly on BSC due to the ongoing BNB Chain Fusion. The mechanism stands free from Binance.
Also read: Is BNB ready for the bull run?
This is unlike the previous burn events, as due to the ongoing BNB Chain Fusion, this quarter’s burn and future burns will happen directly on BSC. The burn tokens are being sent to the wallet named “blackhole.”
The report also mentioned that the chain implements a real-time burning mechanism which is based on gas fees. More than 234K BNB tokens have been burnt since the introduction of BEP95.
BNB gets a tough contest from Solana
Data provided by Coinmarketcap shows that despite the burn routine being in place, BNB price registered a marginal drop in the last 90 days. It is still up by 92% on the year to date (YTD) period after recording a massive surge in March 2024.
BNB is trading at an average price of $600, at the present time. Its circulating supply stood over 145.9 million with a market cap of $87.5 billion. It is still down by 16% from its all time high of $720.67, recorded on June 6, 2024.
CoinMarketCap Data
BNB has managed to maintain its position as the 4th biggest cryptocurrency while Solana (SOL) is trying to close in the margin. SOL gained more than 34% in the last 30 days while BNB price rose by around 2% during the same period. This move has helped Solana attain a $83 billion market cap. Its price is up by 2.64% in the last 24 hours, and it currently trades at an average price of $178.76.
These are what make $BNB more useful and exceptional on Binance.
Binance recently completed its 28th quarterly BNB token burn. This event saw the destruction of 1,643,698.8 BNB tokens, worth approximately $971 million at the time of the burn.
This strategic initiative is part of the crypto exchange's ongoing commitment to reducing the total supply of BNB! This increases its scarcity and potentially its value.
Binance Coin (BNB) is showing strong potential to reach $700 and beyond. Here’s why you should stay calm and focused:
1. Positive Trajectory: BNB is on an upward path, driven by strong market sentiment and solid fundamentals.
2. Buy Opportunities: In case of a bearish dip, it presents an excellent opportunity to buy more BNB at a lower price.
3. Long-Term Hold: Keeping a long-term perspective on BNB allows you to benefit from its overall growth and potential future gains.
4. Market Dynamics: The crypto market is known for its volatility, but understanding the broader trends can help in making informed decisions.
5. Confidence in BNB: Trusting in the strong performance and utility of BNB can reinforce your investment strategy.
Stay informed, patient, and ready to capitalize on both bullish and bearish movements.
Before making investment decisions, Do Your Own Research (DYOR), assess your risk tolerance, and stay updated on market trends and technical indicators. These strategies can help you navigate the dynamic landscape of cryptocurrency investing effectively.
We are in bull run.. Save your money and never short. #BTC #BNB
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🚨🔥 $BTC Alert: Beware the Red Candle Temptation! 🔥🚨
Thinking about shorting 📉 $BTC just because you see a red candle? Think again! Making such a mistake now could be disastrous. 🚫
Why is Bitcoin Dropping? 📉🚨 Bitcoin has just bypassed major resistance in the daily timeframe at the $64,800 - $65,350 level. While it’s experiencing some retracement, Bitcoin has now entered a bullish phase. This means you should avoid opening short positions. If your liquidation is below $70.5k, manage your position by either reducing it or adding funds. Whales and market makers might push wicks up to $71k to grab liquidity. I don’t want any of my community members to suffer losses.💎💰
💰 - No Signal 🤯 Today: Normally, I provide one trade every day at this time, but due to the current market uncertainty, no signal will be posted today. We are analyzing the market closely, and as soon as we spot a good trade opportunity, we’ll share it.
⚠️ Warning & Precautions 1. Stay Informed: Follow our updates for real-time analysis and insights. 2. Risk Management: Always use stop losses to protect your investments. 3. Be Cautious: Avoid impulsive trades based on temporary market movements.
👉 For detailed trade signals and market analysis, follow @CryptoSpaceHQ .We aim to ensure no one in our community faces unnecessary losses.
📈🚀 Stay alert, trade smart, and let's navigate this market together! 🚀📈 #BinanceTurns7 #BinanceTournament #MtGoxJulyRepayments #SOFR_Spike #BTC☀