The leading cryptocurrency exchange, Binance, concluded its 9th quarterly burn of Binance coin. The event marks another success for the platform as it represented an overall gain of 20% of binance’s quarterly profits.
Over 2 million BNB was burnt, rounding to almost $36,700,000. Within a short period since its launch, Binance has surpassed one billion USD in revenue. The last burn that took place in July saw BNB worth about $23,838,000 million taken out of the supply. Over the past three months, Binance has witnessed a growth of about 56% in the firm’s profits.
During these three months, the network launched bitcoin futures trading, which has currently turned into a record-breaking feature for the platform. Besides this, it also introduced Binance staking for cryptocurrencies. Traders can stake the coins in return for an annualized interest rate, initiating a passive earning. In spite of an increased unpredictability in the prices of digital assets, binance sustains to make its profits.