The world's largest crypto money exchange, Binance continues to grow despite the bear season in the crypto money market. According to The Block's April 16th report, Binance made a profit of $ 78 million in the first quarter of 2019, an increase of 66%.
BNB Continues to Rise
Binance, which is the most preferred crypto currency exchange in the whole world, made a profit of $ 78 million. According to the report, 830,000 BNB token, which was burned, constitutes 20% of the stock market's profit in the first quarter of this year.
Although Binance did not announce its first quarter profit, The Block pointed out that the popular crypto money exchange made a net profit of $ 47 million.
Binance's platform token has seen an incredible rise since the launch of Binance Coin. BNB ranks 7th among CoinMarketCap's top 10 crypto currencies. Binance continues to burn a portion of the BNB, which provides some significant advantages to its investors in the stock market transactions every quarter of the year.
5.82% of BNBs were burned
Binance's official blog, according to information on April 16 BNB with the burning of Binance, BNB supply of approximately 5.82% of the supply of the burned. Following the sixth BNB burning event in January, the Binance CEO Changpeng Zhao said:
Incineration completed. We remember our first coin-burning event, we burned a $ 1.5 million BNB. I was nervous like he was in hell. I'm still nervous. The fastest way to spend money.