Every quarter Binance burns BNB tokens equivalent to 20% of their profits. Last January they burnt tokens worth around $1.5 million. The result of this burn was a sharp rise in the price of BNB. The same result was also observed in October 2017, the time of the first coin burn.
According to information floating on Twitter (which I could not verify) the next coin burn is six days away. Going by the market reaction to the first two burns, most crypto enthusiasts are expecting the price of BNB to hit $50. It remains to been seen if this will be the case.
Watch the video below and share your thoughts.
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