“Defy the odds with BNB Coin deflation and unique features”
Binance Coin (#BNB ) has recently been launched on the 25th. it experienced a three-month ”burning" process, as a result of which about 2.1 million BNB worth $ 500 million disappeared. Despite facing regulatory challenges and a price drop, the deflationary nature of BNB and other unique characteristics make it a promising cryptocurrency.
Binance, one of the leading cryptocurrency exchanges, is facing legal actions from the Securities and Exchange Commission (SEC) in the United States and the breakup of financial service provider Paysafe in Europe. These obstacles affected the price of BNB, causing Bitcoin to lag behind the upward trend. However, the regular "burning" process of the BNB, in which a significant amount of tokens are destroyed every three months, has been an important factor in its deflationary nature.
MAIN POINTS
The burning program was implemented with the establishment of Binance in 2017, funded by the sale of BNB tokens.
The BNB was associated with discounted wages and planned deflation through the burning program.
25 Out of the 200 million BNB tokens initially produced. only about 152 million of them remained after the incineration process.
The burning program leads to natural deflation and supports the price curve of the BNB.
The destruction of the BNB will end when there are only 100 million BNB tokens left in circulation.
solution
Binance Coin stands out from other cryptocurrencies due to its deflationary structure and fair token distribution. Unlike many new cryptocurrencies, BNB was launched fairly, there was no free allocation, and the reserves originally intended for team tokens were included in the burning program. In addition, BNB offers fare discounts and acts as an attendance ticket for the Launchpool and Launchpad. It is expected that BNB's price curve will recover as regulatory problems are brought under control.
