Binance’s own digital money Binance Coin (BNB), one of the world’s largest crypto-money stock exchanges, was the winner of the top 20 in 2018.
According to CoinTimeMachine, BNB has made 65 percent of its profits since the beginning of 2018. Vechain, the digital currency that comes close to BNB, is only 8 percent.
Currently, Binance offers a 50 percent discount on commission fees for transactions with BNB. In addition, anyone with 500 BNB’s can receive a 40 percent share of the commission of every member they invite.
Binance Coin will have even more responsibility in the coming period. As is known, the company works on a decentralized stock exchange. This stock exchange will work on the Binance block chain, so Binance Coin is expected to play a critical role here too.
Of course, for BNB, which is one of the most successful digital moneys of 2018 in the sense of return, the coin is burned every quarter of the year. The first burning occurred on October 15, 2017, the second burning on January 15, 2018, and the third burning on April 15, 2018. In this direction, the stock market is expected to declare the fourth fuel on 15 July and to complete it on July 18.
The platform destroyed nearly 1 million coins in the first coin burning, followed by 1.8 million coin in January. In April, the amount burned was about 2.2 million. It is thought that this amount will go up in July.
Coin burning, in other words, the decline of the supply of coin. The basic principle of the economy is to increase the price along with the falling supply in response to rising demand. It can not be guaranteed that BNB will be a risky exchange like the crypto money market, but declining supply in the long run may be a significant factor as Binance is thought to be a rapidly developing stock exchange. It’s worth pursuing.
By the way, Binance will continue this cycle until it reaches 100 million BNB.