The largest trading volume of the cryptocurrency exchange Binance completed the fifth stage of the burning token Coin Binance (BNB). The company destroyed 1.64 million coins for $17 million, reducing the number of tokens in circulation until 117,443 million.
According to the documentation of the project to create cryptocurrency Binance Coin was initially released 200 million tokens 100 million the company sold during the primary supply of coins (ICO). At the end of each quarter Binance spends 20% profit on redemption of BNB and the burning tokens. This will continue as long as the number of coins in circulation will be reduced to 100 million.
The quarterly destruction of tokens is gradually reducing their number, which leads to an appreciation of the cryptocurrency. Increased demand for Binance Coin is also attributable to the increase in the number of users of the exchange. Binance plans to soon open offices in Uganda, Singapore, Russia and Malta. Moreover, the firm is developing a decentralised cryptocurrency exchange, where you also can use tokens BNB to pay the fee for trading transactions.
It is important to note the positive dynamics of Binance Coin in 2018: the price of the coin went up to $8,54 up to $for 9.88. Bitcoin for the same period fell from $13411 to $6542. The same fate befell most of the other top-end digital assets. This confirms the effectiveness of the strategy Binance.