Token Burn is the process of permanently removing a certain number of cryptocurrencies from circulation, often by sending them to a non-recoverable address. For BNB (Binance Coin), the token burn has direct and indirect effects on its value.
🔥 How does the burning of BNB affect its value?
1. Supply Reduction
- Every burn reduces the total number of BNB coins available in the market.
2. Enhancing trust in the project
- Regular burns demonstrate Binance's commitment to achieving long-term value for BNB holders.
- It gives the impression that the team is working to reduce inflation and improve the currency's economy.
3. Increasing Scarcity
- Over time, BNB becomes more scarce, which may make it more attractive to investors.
- This is somewhat similar to gold: the rarer it is, the more valuable it becomes.
4. Stimulating Demand
- Investors may see the burn as an opportunity for future profits, increasing demand for BNB.
- This can lead to a price increase even before the actual burn, based on expectations.
📊 Practical Example: BNB's Quarterly Burn Program
- Binance burns BNB every quarter based on trading volume on the platform.
- The ultimate goal is to reduce the total number of BNB from 200 million to 100 million.
- This policy has helped support the price of BNB in the long term, especially during bullish market periods.