BNB Burned and Estimated Quarterly Net Profit
Binance has conducted its 10th quarterly burn, amounting to 2,216,888 BNB and permanently took away about 38.8 million USD worth of BNB out of circulation.
The exchange has previously stated that it plans to burn 20% of the net profit, so we can estimate the income that the exchange makes. And let’s try to calculate the key numbers.
🔹Net Profit in the Q4 2019 increased by 5.7% compared to Q3 2019.
🔹The decrease in profit in the Q4 2019 is 3.722% from Binance’s record profit in the fourth quarter of 2017 during the altcoin season and huge volumes on exchanges.
🔹3.88x net profit growth compared to Q4 2018, where profit and volumes of exchanges were minimal.
🔹The token circulation supply has decreased by 8.45% since Q3 2017.
Total BNB burned in USD value: $246,138,000
Net profit since Q3 2017: $1 230 690 000
