Binance coin (BNB) may easily be the best crypto to watch in the next couple of months. This follows an announcement by Cz that they would be doing their 15th coin burn “in a month or so.” Responding to a Twitter query on when the next coin burn would take place, the chief of the crypto exchange gave the above response.
In about a month or so
— CZ 🔶 Binance (@cz_binance) March 13, 2021
This is big news for Binance coin investors, a crypto asset that is already one of the top performers over the past year. In March 2020, the Binance coin was trading for $6.40 following a drop occasioned by the announcement of COVID-19 as a pandemic. As of press time, BNB has made gains of 42X within a year, as it is currently trading above $280.
The coin burn could serve to propel the Binance coin even further in the near-term. This is because the burn will reduce the supply of BNB in circulation relative to its demand. While it is not the primary source of value growth for the coin, it is a huge part of it.
Besides, Cz has come out to dispel any fear surrounding the crypto asset after the recent news of Commodity Futures Trading Commission (CFTC) investigations saying that it was all FUD.