Impact of the event Binance burned $600M in BNB

[basel23 1722]

Binance is trying to be the best project that supports smart contracts and decentralized applications. Binance exploits some of the defects in the Ethereum project, such as the high gas fees that are needed for Ethereum transactions.

[MrSpasybo 1049]

20 hours ago, Angela valdez said:

This might be probably one of the reasons why BNB now is very good. With BNB now you can get good profits and more people just keep on using the binance platform which means that their currency will keep on growing

@Angela valdez Yes, when the supply decreases, the price of BNB increases, the promotion for Binance also goes up. Thus, Binance will have more users, have more profits and burn more BNB, and the price of BNB will continue to rise ^^
Binance created the perfect loop to raise BNB prices & promote Binance.

[Merry Cherry 670]

The burning tokens ate usually use for the short period of time. It is investment for short time. Burning token are getting popularity and people are getting awareness. They are doing their promotion so thay people get knowledge and, learn about it. 

[dlal88 725]

Everyone is trying to increase profits by storing their money, so dear, burning currencies is an easy and most common way to reduce the supply of symbols, which leads to higher prices, as we saw in the world of encrypted currencies that binance wants to compete with Ethereum, where currency burning can be beneficial to virtual currency traders