Burning a coin is the process of sending the token to an address that is invalid and does not have a private key. This effectively removes tokens from circulation, thus reducing the supply of the asset by reducing supply, demand, and price increase.
Holding BNB tokens results in a 50% reduction in trading fees on the platform.
The first BNB coin burn took place on 18th October 2017. In the initial burn, 986,000 BNB tokens were burnt. This did not have much effect on the price of the token, which was trading at around $1.31 on the day of the burn.
The second burn took place on 18th of January 2018, after being announced on 15th of January. The event burned 1.8 million BNB tokens.
As can be seen from the price graph, the price steadily moved downwards until the coin burn took place. From a high of $23 on 15th, the coin saw a slow decline until 18th, where it increased in price from $10.06 to $15.54 in the span of one day. This represents a whopping 54% increase in price.
The most recent burn saw the destruction of 2.2 million BNB tokens. This took place on April 18th. Interestingly, the coin did not see any drastic changes in price.
The next coin burn is coming on 18th of this month. It is left to see how the price will be affected by the event.
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Kool post never knew about any of this. Good job.
@johnbcheffin12 Yes very few people know about it .
I'm following u
Your article is also good
Please support me
https://steemit.com/mgsc/@bitcaoinsolution/good-news-malta-legalize-cryptocurrency
Thanks i will check it out and follow for sure.
thanks a lot
Always welcome luv. Cheers
Binance is the very good exchange. As it is performing good, Price of BNB will also boom. I am very much hopeful for this coin.
ofcourse it's a very good exchange,
last time it was hacked by hackers and more than 1500 btc was stolen.
Even you guys heard about the syscoin pump on binance.
That time, syscoin was sell out by 96 btc.
means
1 syscoin = 96 btc
because of hacking.
always be careful with your assests. No matter who is present in front of you.
Nice information bro.
It help many people who don't know about burning
Please do upvote , follow and comment
https://steemit.com/mgsc/@bitcaoinsolution/good-news-malta-legalize-cryptocurrency
thank you for supporting
Binance have Great idea to high level bnb coin reply me
well explained the concept of coin burn. I do have some BNB
I think bnb will boom soon, because binance exchange going to the Decentralise exchange
thak you very much
@knowladgeking Hope 18th of this month bring some good news for us
thak you very much
Helpful article.
thak you very much
very informative post looking forward to more of that
thak you very much
Yes it is possible
thak you very much
Nice post 👌Follow me i also follw you👍
@knowladgeking bro binanace coin bahut profitable coin he and usne 10x 20x profit diya he...
Grt
Coin burn is a nice concept it increases the value of coin
Yaa even i m waiting to see how it will burn
upcoming most valuable coin
Hi Elz,
Nice article about BNB , sure this is binance exchange coin have great potential.
All crypto wold looking to Binance as most secure exchange. Need to hold BNB follow long term you will very good frofite.
BNB is one my fevaret coin, very good info.
Happy to visit your blog, I will be in touch with you to get same articals.
Follow me @ram.todkar
good job
you work hard to grab the history of bnb
Very good information by knowledge increase about bnb coin
What do you think how much Binance Coin will go at the end of 2018?
Nice Work
I will definitely have some BNB coins in my wallet
Thanks for sharing this useful information.
Investment in BNP is hopefully worthy, I guess u got it?
hi @ knowladgeking Binance is the at present best exchange in the world. This exchange trading is very low. But This exchange problem is sometime hang otherwise always ok
for maintaining the value of token its is burn. when less token high value
thamks for the information
i did not know about coin burn before, thanks
Bnb is one of the hidden gem for sure. Keep hodl
I think they decreasing there BNB coin to make the profit by burning there coin slowly slowly
Bnb coin gives us so much profit so grab it before bull run..
@knowladgeking - BNB is a good coin and quarterly burning of bnb's give a price hike which i like the most.
Pump again....
Binance coin is very good coin and give good profit incoming days
So nice post
Nice post..
Great job...expect more in future
Congratulations @knowladgeking!
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Do you really think bnb can boom rapidly?
bnb coin is good for investment
I am still holding some BNB coins. Hope to book some profit after 18th...