Post
Topic
Board Altcoin Discussion
Re: 1 Million BNB Burnt today
by
nicecrypto
on 21/04/2021, 07:41:11 UTC
The burn is already done? Why is the price keeps dropping then?
Burn has been done and prices are still going down. You should be aware that we all don't know when Binance buy back tokens to burn. So even though currently the token has been burned, it will not affect the price.
Because it could be that yesterday BNB went up high is the effect of the buyback
Well I guess that is different today because the price of BNB you most admit has gone back up to currently trading at $600+ now. I believe investors wanted a quick price reaction to the BnB burn but even in Bitcoin Halving, the price don't just change like that I guess. I believe BNB is still in good shape and looking to hit that $1k price by year's end. Wink