As the market goes on to horrifies digital assets, Binance Coin (BNB) has completed its sixth coin burn in the mean while. The Binance exchange have burnt around 1.6 billion BNB coins. The recent coin burn from Binance correlates with the fifth one, which happened between the period of 1st October and 31st December in 2018. This means that the number of coins burnt are fairly close to that of fifth BNB burn. As per the tweet from Binance, it states:
“Find out how many $BNB (Binance Coins) were burned for the recently concluded quarter, along with thoughts from CEO of Binance on the current market and what he is excited for in Q1 2019.”
The CEO of Binance, Changpeng Zhao stated that he remembered the time when he first burnt around $1.5 billion dollars of worth BNB and at that time, he was nervous as hell. He added that at the moment he is also excited regarding the BNB burn, because it is the fastest way to spend money.
Zhao also expressed his thoughts on the current market and he said that even with the same number of coins burns back in the last quarter of 2018 (fifth BNB burn) it brought quite notable changes in the BNB ecosystem. But, the due to the bear market the dollar value of sixth BNB burn is around $9.4 million as compared to $17 million during the last period.
The Binance’s CEO claimed that they done a lot of things in the mean while and they are still many things they are BUIDLing. He is super excited to add more fiat in-ramps, especially in the bigger markets like Europe and Asia. The BNB network believed that the easier they make it for the users to convert from fait to crypto, the faster crypto industry will grow and develop. Kudos to Binance teams and partners that make these on-ramps possible across different areas around the world.
Expressing regarding BUIDL, there is one more healthy prospect for Binance coin (BNB) and it’s the Binance Chain and the Binance DEX, which are about to launch soon. The crypto coin of Binance is steadily moving towards more success and its ecosystem is also growing. The Binance DEX will not have a direct impact on the value of coin, but it will increase the utility of BNB, which would be ultimately good for the BNB holder and Binance itself is one of the largest holders of BNB coin.
So, there is much to do for Binance Coin (BNB) in 2019. The crypto users should stay tuned to the updates on the BNB coin. Having a look at its market today (16th January 2019), it has done pretty good as compared to other top altcoins. At the time of writing, BNB was trading with a price of $6 USD having a market cap of $774 USD and a trading volume of $20 million.