I cleared my BNB today, and the clearing price is about 616 u.

BNB has always been my second largest position, with an overall cost of about 250. After two years, along with the Launch Pool, the overall returns are still quite good.

There are three main reasons for clearing positions:

1. Although Binance is still the largest CEX, the gap with other exchanges has been narrowing over the past two years. From over 50% market share, it has dropped to 30%.

2. BNB has a market value of about 100 billion. If 10% of BNB (10 billion) participates in the Launch Pool, and if each time it needs to maintain a 0.5% return rate, the project party needs to put out 50 million u worth of tokens in the Launch Pool.

If other airdrops are included, the initial circulation needs to be around 100 million u. If there is 10% of the tokens in initial circulation, the total market value is around 1 billion u; if there is 20% initial circulation, the total market value is about 500 million u.

After all, truly excellent projects are very scarce.

For most projects that are not that excellent, a market value of 500 million to 1 billion is already the ceiling, and there is limited upward space. If the profit-making effect is lacking.

Who will take over?

3. Other exchanges have started to act without ethics and have begun using BTC for new listings.