In July 2017, Binance announced that it would be allocating 20% of its quarterly profits to buying back and “burning” Binance Coin (BNB). The process of “burning” coins refers to sending them to an address that is unspendable, effectively removing them from circulation.
Binance burns BNB every quarter until 100 million BNB are removed from circulation, which is expected to happen in 2025.
So far, Binance has burned a total of 829,888 BNB, which is equivalent to over $130 million at current prices. If we assume that Binance continues to make the same profit every quarter and allocate 20% of it to buying back and burning BNB, then we can estimate how many coins will be burned every quarter and how long it will take to burn the remaining 100 million BNB.
Assuming that Binance’s profits remain constant, the company will burn approximately 2 million BNB every quarter. At current prices, this amounts to over $300 million being removed from circulation every year.
NOTE: WARNING: Investing in Binance coins is a risky endeavor and should not be attempted without significant research. Investing in Binance coins involves a high degree of risk, including the potential for significant losses due to market volatility and other factors. The number of coins Binance will burn has not been officially announced, so please consider all of the risks involved before investing.
At this rate, it would take just over 3 years to burn the remaining 100 million BNB, which would put the final supply of BNB at 200 million.
However, it’s important to note that Binance’s profits are not likely to remain constant. The company is still relatively young and is rapidly expanding its operations.
As such, it is likely that profits will increase in the future, which would mean that more coins would be burned each quarter. Based on this, it is possible that the remaining 100 million BNB could be burned sooner than 2025.
ultimately, only time will tell how many coins Binance will burn in total. However, based on the company’s current trajectory, it seems likely that most of the remaining 100 million BNB will be removed from circulation within the next few years.
10 Related Question Answers Found
As of January 2019, there are over 15.5 million Binance coins in circulation. This is out of a total supply of 200 million Binance coins. So, there are approximately 185 million Binance coins left.
Binance Coin is a cryptocurrency with a native token that is used to trade on the Binance cryptocurrency exchange. The Binance coin can be used to pay for fees on the exchange and can also be used to trade against other cryptocurrencies. The Binance coin has a total supply of 200 million and a circulating supply of 143 million.
Binance coin is a cryptocurrency with a bright future. As the native currency of the Binance exchange, it has a number of advantages that make it well-suited for investment. For one, Binance coin is used to pay fees on the Binance exchange, which gives it utility and real-world value.
As of now, there is no minimum amount required to start trading on Binance. However, each trade requires a small amount of cryptocurrency to be sent to the blockchain as a fee. This is generally a very small amount, worth only a few cents USD.
Binance coin is a cryptocurrency with a utility that allows holders to receive a discount on fees for exchanging cryptocurrencies on the Binance exchange. The coin can be used to pay for goods and services, and as a store of value. The price of Binance coin has been on a tear in recent months, as the cryptocurrency market has exploded higher.
Binance coin is a cryptocurrency with a utility function. It can be used to pay for fees on the Binance exchange, and it will also be used on the Binance DEX (decentralized exchange). Binance coin has a limited supply of 200 million, and it will never be increased.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, offers a vast selection of digital assets to trade. As of April 2019, Binance had over 150 different coins available to buy, sell, or trade on its platform. The majority of these are “altcoins,” or cryptocurrencies other than Bitcoin.
Binance is a cryptocurrency exchange that launched in 2017. Since then, it has become one of the most popular exchanges in the world. Binance is known for its low fees, wide range of altcoins, and its fast transaction processing.
Binance is a cryptocurrency exchange that launched in July 2017. Since then, it has become one of the most popular exchanges in the world. Binance is known for its low trading fees, fast transaction speeds, and wide selection of coins.
Binance Coin is the native cryptocurrency of the Binance Chain blockchain, developed by Binance and launched in 2017. The total supply of Binance Coin is capped at 200 million. Binance Coin is used to pay fees on the Binance Exchange and can be used to trade a variety of cryptocurrencies listed on the exchange.
