Analytical service CoinMarketCap has made adjustments to the mechanism for calculating the emission of BNB, the native token of the leading cryptocurrency Binance exchange. This happened a few days after Binance reported changes to its BNB token burning program.
So, last week the stock exchange burned 808,888 BNBs for a total of $ 23.838 million. As Changpeng Zhao emphasized, his team as a whole does not use those coins that were originally distributed to its needs (40% of total emissions) to develop the Binance ecosystem .
“CMC has just“ tonsured ”BNB to 80 million. The principles of calculating tokens in circulation at CMC work only for coins mined by mining. They do not work for incineration projects, unlocked team allocations and other such things. Well, nothing, BNB has room to grow, ”wrote CEO Binance Changpeng Zhao on Twitter on Tuesday morning, July 16th.
As a result, the market capitalization of BNB fell by more than $ 1.5 billion (from $ 4.59 billion to $ 3.08 billion), and the token in the CoinMarketCap ranking dropped from sixth to eighth place.
As expected, the exchange will continue to burn the coins until the issue reaches 100 million BNB. Currently this value is at 109.1 million BNB.
Recall that last week Binance launched a platform for margin trading for all its users.