The Binance Exchange has reported on the successful third quarterly burning of its own Binance Coin tokens.
2,220,314 BNBs were destroye for a total of about $ 30 million, representing 20% of the company's revenue for the last quarter.
As noted by the CEO of Binance Changpeng Zhao, in dollar terms the amount was less significant than last quarter, in Binance Coin - more. He explained this: the volume of trading on the market of crypto-currency, including Binance, has recently declined, which is why the stock exchange collected fewer fees in Fiat. However, the price of Binance Coin also decreased.
At the same time, Zhao notes that Binance Coin's price has been quite good for the other crypto currency, which caused many market participants to view their own exchange token as a tool to protect assets in the period of high volatility.