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Binance burnt 1.68 milion BNB inorder to reduce its supply
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[QUOTE="Alexandoy, post: 206260, member: 25510"] I am really confused by this burning of crypto coin that it really looks mysterious to me. The coin that was burned was worth millions and I guess it was burned so that the supply will be lesser to satisfy the law of supply and demand. In clearer words when the supply is diminished then the price in the market goes higher. They burned $792 million worth. If the price in the market goes up, I don't think they can recover the amount that they burned. It really looks silly to me or maybe I am missing something in the equation. With that burning the investors should realize that the crypto coin is just like a token of a game like Monopoly. The originator can play with the tokens and burn some tokens if they want regardless of the value. That is insane. [/QUOTE]
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Binance burnt 1.68 milion BNB inorder to reduce its supply
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