Cryptocurrency (Apr 16, 2021 12:40PM ET)
Record $600M BNB burn suggests Binance made $750M in profit in Q1
Binance Coin (BNB) saw its 15th burn to date on Friday. According to on-chain data, Binance burned nearly $600 million worth of BNB tokens.
Historically, Binance has burned around 20% of the exchange’s profits. But in the last burn, Binance burned much more than 20%, and the exact percentage of the burn remains uncertain.Binance Smart Chain transaction volume. Source: BSCScanBNB/USDT 1-day price chart (Binance). Source: TradingView.com