BNB Chain Burns Over $500 Million in Binance coin

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


To maintain only a portion of the Binance coin in circulation, some $500 million worth of BNB was burned. Only half of the whole supply was burned, according to Binance, leaving the other half in use. The coins were completely removed from circulation when the address 34167E903B9F662A64817266D8A6CE4FE096868DAD0B883E4F838331E280EEFF was used to initiate the burning.

In the context of cryptocurrencies, “burning” often refers to the total elimination of native tokens from the total (or circulating) supply. Recall from prior experience that prices typically react by leaping upward either for the short-term or the long-term after burning a large number of tokens in a blockchain. BNB may, however, only increase in value for a short time due to the severe condition of the global cryptocurrency market.

Key Binance coin Levels To Watch – January 17

The market structure shifted to the downside as a result of the failure swing after the $395.0 high and the breakout from the $257.0 major support. Until the $395.0 price level is broken to the upside, the market’s order flow remains typically bearish.
BNB Chain Burns Over $500 Million in Binance coinAccording to the Moving Average Period 9, the market is currently in a short-term rally, which is against the overall motive wave since the market structure shifted downward. However, Binance is overbought, and a deep dive is looming.

Binance coin Key Levels

Resistance Levels: $395.0, $361.0, $318.0
Support Levels: $257.0, $220.0, $183.0

Total Market Capitalization: $966.75B
Binance Market Capitalization: $45.92B
Binance Volume: $0.83B
Market Rank: #4

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *