Binance, one of the top exchanges in the world completed Coin burn for 829,888 BNB(Binance coin), which is around US$15,600,000 for the period between January 1 to March 31, 2019.
The Binance CEO, CZ Binance shared his views on this and road ahead. Also, he emphasized on Decentralized exchanges as it is an important step for the growth of the industry.
If you don’t know why they burn BNB, or want to know what is “coin burn”, then here it is.
What Is Coin Burn?
Coin burn means permanently removing coins from circulation, reducing the total supply. Binance Exchange executes Coin Burn every quarter through the use of a smart contract function known as burn function.
The BNB burning events will continue till 50% of total BNB are…