April 18, 2020, 2:10AM EDT
• 3 min read

A closer look at Binance's BNB burns

Quick Take

  • The exchange burned the equivalent of $52.5M in BNB from circulation, which is a 35.2% increase from $38.8 million in Q4
  • Binance has so far burned 20.12 million BNB (an equivalent of $298M), which represents more than 10% of the total supply
  • Binance had the second-best quarter in terms of spot volume, its futures volume soared as well and web traffic is also up
  • Questions arise around Binance’s mechanism for burns – no longer based on profit and burned from uncirculated supply

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