$105,469.00
0.36%$2,516.11
0.31%$2.18
0.18%$652.01
0.73%$150.94
0.03%$0.999748
0.00%$0.18481
1.96%$0.28072
0.56%$0.664117
-0.55%$2,513.52
0.27%$105,329.00
0.32%$34.65
-0.30%$3.23
1.34%$3,029.19
0.17%$13.87
2.22%$20.79
5.33%$9.18
1.81%$0.26718
1.04%$410.83
4.36%$3.19
0.43%$0.00001275
1.06%$0.169917
1.13%$0.999666
-0.01%$89.09
2.58%$2,514.99
0.33%$2,692.47
0.34%$4.02
1.33%$324.57
-0.62%$1.00
-0.01%$1.001
-0.01%$4.67
0.65%$0.00001142
1.26%$105,431.00
0.36%$0.625369
0.25%$31.43
-0.68%$258.80
2.00%$6.28
3.17%$1.18
-0.02%$380.96
1.16%$52.13
2.07%$4.71
0.98%$2.43
3.24%$0.09757
-2.04%$1.00
0.00%$182.08
0.20%$5.13
2.06%$17.28
2.09%$0.828532
1.55%$1.054
0.01%$31.02
3.27%$0.087222
0.36%$18.56
0.12%$0.656868
3.05%$1.00
0.11%$0.02411157
1.12%$10.33
4.16%$0.328884
8.76%$3.85
0.94%$0.761733
3.24%$4.30
0.39%$0.215769
0.47%$4.41
-0.14%$105,049.00
0.15%$1.11
2.51%$2.50
2.18%$115.88
2.59%$0.345443
1.49%$0.19127
0.77%$0.999689
0.08%$0.072
-0.47%$2,513.69
0.24%$4.41
0.10%$1.00
0.03%$1.00
0.07%$11.09
-0.21%$0.460828
-1.38%$2.03
-0.81%$158.94
-0.07%$12.89
6.03%$1.24
1.96%$0.01797002
0.11%$0.379944
0.86%$0.00001542
0.40%$1.81
-2.57%$2,863.65
0.39%$2,635.61
0.52%$4.05
-0.07%$0.62885
3.90%$1.00
-0.01%$1.10
-2.10%$1.021
1.48%$0.190504
1.28%$0.999164
-0.02%$0.999765
-0.01%$0.651264
-2.49%$0.527234
2.46%$105,491.00
0.48%$0.059335
-0.13%$0.591534
0.01%$2,685.08
0.73%$2,635.65
0.43%$0.657808
2.99%$651.83
0.65%$0.091731
-0.15%$105,171.00
0.45%$0.861232
0.42%$2,640.60
0.34%$3,319.74
-0.39%$104,735.00
0.22%$3,335.28
-0.40%$0.00008292
-1.53%$167.79
0.12%$48.70
-1.38%$0.769331
1.66%$2.33
-0.15%$0.821221
4.62%$0.0162821
1.58%$195.79
0.13%$111.34
0.02%$20.82
1.32%$0.179301
0.45%$1.10
-0.02%$0.503525
0.22%$0.01399379
-0.06%$0.00000069
0.17%$0.275878
1.36%$0.999857
-0.02%$0.116069
0.80%$4.10
1.66%$32.86
0.55%$0.997589
-0.00%$104,893.00
-0.05%$2.18
-0.02%$0.107253
-0.39%$0.00994572
3.42%$2.01
0.04%$1.83
-0.05%$2.14
4.38%$0.616167
0.94%$0.566546
0.74%$10.35
6.63%$1.092
-0.02%$0.363055
1.25%$1.63
1.44%$0.99625
-0.37%$2,514.72
0.19%$0.705473
-0.08%$2,513.03
0.11%$2.94
0.46%$0.279448
2.00%$0.20063
-0.70%$1.31
21.16%$2,628.77
-0.01%$105,377.00
0.29%$2,687.22
0.64%$0.051142
6.02%$34.68
-0.19%$2,514.69
0.26%$104,978.00
0.21%$0.0146496
-3.31%$2,718.10
0.31%$0.998922
0.00%$0.441264
4.36%$0.18455
1.81%$0.468232
-6.82%$0.050681
1.17%$0.063306
-2.80%$0.419077
6.16%$0.999711
0.00%$0.131646
1.26%$0.00437625
1.48%$15.32
0.61%$1.41
0.51%$0.590418
-4.90%$0.514684
0.76%$1.00
-0.09%$6.02
1.40%$102,808.00
0.08%$0.00002121
0.09%$0.537036
0.86%$0.082098
4.18%$0.00000042
0.82%$45.49
0.80%$37.26
0.54%$1.089
0.01%$6.23
2.21%$0.995278
0.21%$0.00497954
3.41%$1.64
-1.56%$2.44
0.44%$0.335751
0.59%$0.00680362
0.74%$2,510.80
0.22%$1.36
2.37%$1.17
2.08%$0.00416138
-3.57%$0.999784
0.01%$34.66
-0.25%$0.380212
-0.65%$0.151036
0.53%$0.999898
0.17%$2,671.19
0.33%$0.01920926
0.74%$0.03818478
0.59%$0.142845
2.87%$0.535288
-0.48%$0.075057
2.00%$2,771.04
0.43%$1.27
1.47%$0.349222
-0.72%$0.00036481
42.30%$104,913.00
0.18%$105,377.00
0.31%$0.03377658
-0.02%$126.28
0.72%$2,744.44
0.32%$0.00000085
0.52%$0.793244
-0.28%$0.00391814
-1.26%$0.00624429
-0.33%$0.0000595
0.63%$0.215661
0.50%$20.86
5.57%$2,514.73
0.26%$19.29
0.51%$0.999789
-0.01%$1.00
0.01%$163.86
0.14%$0.126892
0.29%$7.47
-2.74%$2,491.80
-0.54%$0.31821
1.26%$0.657215
-1.53%$0.304644
0.75%$0.00000144
3.58%$0.649028
3.69%$0.999662
-0.00%$0.205609
2.41%$0.00412702
1.62%$0.470899
-1.31%$0.00312043
0.58%$2.32
0.27%$105,661.00
1.11%$1.007
0.61%$16.27
2.66%$25.23
5.50%$2,117.31
0.31%Reading
Cryptocurrency exchange Binance has finished its quarterly token burn, destroying a total of 3,691,888 Binance Coin (BNB), worth roughly $165.8 million, according to an announcement published today.
According to Binance CEO Changpeng Zhao, around 2.4 times more tokens were burned this time in terms of fiat value—compared to the previous event. Binance burns large amounts of BNB every quarter, helping to reduce its available supply—which, in theory, can boost its price if demand stays steady.
Just as The Block’s director of research Larry Cermak predicted a few hours earlier, the latest burn is the biggest so far. This can be explained by Binance’s growing spot and futures trading volumes over the last quarter of 2020, he said at the time.
We are going to see a massive BNB burn today. By my estimations, likely about twice larger than the previous quarterly all-time high.
Why? Binance's spot volume is up more than 50% and futures volume is up 140% in Q4. pic.twitter.com/iuBBtOxkin
— Larry Cermak (@lawmaster) January 19, 2021
“Why? Binance's spot volume is up more than 50% and futures volume is up 140% in Q4,” Cermak tweeted, adding, “Quarterly volume reached an all-time high by far. About $471.5 billion in Q4.”
Cermak explained that Binance has become the “de facto” platform for futures trading—after BitMEX “fell”—and its futures trading volume in December alone has exceeded the entirety of Q3 2020.
As Binance’s CEO Changpeng Zhao stated previously, the growing scale of burns represents “significant growth,” since the amount of BNB burned each time is based on the number of trades performed on the exchange per quarter. (The burn used to be officially tied to the exchange's revenue but mention of this was removed from the whitepaper).
Zhao said, in the post, that the exchange is speeding up the next burns, in order to reduce BNB's total supply more quickly.
"Even though this is an impressive amount for a three-year-old startup, at that rate, it would take roughly 27 years to finish the burn. So, we thought it’s time we speed it up a bit," he wrote.
Zhao acknowledged that this means the burns will not correlate directly with the exchange's quarterly revenue any longer (implying that it was still doing so, despite the absence of the commitment in the whitepaper).
"You may still be able to infer that our revenues are lower than a certain number. But it will be a rough guess at best," he added.
Just a day prior to the burn, the price of BNB reached a new all-time high of $46.81, according to crypto metrics platform CoinGecko. This could’ve been a sign of anticipation since token burns usually give BNB’s price a boost by decreasing its total supply.
Crypto exchange Binance has unlocked a massive amount of Binance Coin (BNB) for its staff, six months later than it's supposed to happen, according to Binance CEO Changpeng Zhao today. When Binance ran its ICO in 2017, it allocated a certain amount of the coin for its own staff. These coins were to be released periodically and handed out. And yet the exchange missed a rather large milestone. “Also unlocked 16 million #BNB. These were suppose (sic) to be unlocked in July 2020. We just forgot. Th...
As Decrypt reported, Binance commenced its previous token burn on October 17. The platform destroyed $36.7 million worth (at the time) of BNB. The exchange removed two million BNB from circulation that time, shrinking the total supply to 185,474,825. Before that, Binance burned just over 800,000 BNB in July 2020.
According to Binance’s initial plan, the exchange will continue its quarterly burns until there are 100 million BNB left—or 50% of the total number of tokens that were ever issued.
The official Donald Trump meme coin project will not launch its planned Trump-branded crypto wallet, according to President Trump's son, Eric Trump. The move comes following a dust-up with the president's sons, who plan to launch a wallet through their own World Liberty Financial project, which is also backed by President Trump. "I am proud to announce the TRUMP meme coin has aligned with [World Liberty Financial]," Eric Trump wrote on X on Friday. "Although their meme wallet isn’t moving forwar...
X has unveiled a real-time tool that dissects market-moving news in partnership with Polymarket, a crypto-native prediction markets platform, the companies said Friday in a joint statement. Launched on Friday, the tool will offer live insights into events that influence markets, combining data from X and predictions from Polymarket. In addition, the product will leverage xAI’s chatbot Grok and relevant X posts to provide real-time explanations of market moves. Combining those various technolo...
Binance Head of Financial Crime Compliance Tigran Gambaryan is departing the crypto exchange where he spent four years investigating illicit finance and cybercrimes, he said Friday in a Linkedin post, just a few months after escaping a harrowing eight-month-long detention in Nigeria. In the social media post, Gambaryan, a former IRS agent, shared that he is on the lookout for “new challenges.” He intends to pursue job opportunities in the public sector or at a mission-driven institution in the...
