Binance Coin (BNB) Holders Share Financial Outcomes: 30.9% Made Money, 27.3% Lost Money

Changpeng Zhao (CZ), the former CEO of Binance, shared the results of a poll asking users about their financial outcomes with Binance Coin (BNB).

Binance’s former CEO Polls Users on BNB Financial Outcomes

Changpeng “CZ” Zhao, the former CEO of Binance, conducted a poll on Twitter, asking users about their financial experiences with Binance Coin (BNB). The poll, which garnered over 53,000 responses, offered three choices: “Yes, made money,” “No, lost money,” and “Never bought.”

Are you happy with your financial outcome with BNB (last poll for this round)?

— CZ 🔶 Binance (@cz_binance) March 2, 2024

Out of the total responses, 41.8% of respondents stated that they had “never bought” BNB. This suggests that, despite Binance’s significant presence in the crypto market, some users have yet to invest in the token, perhaps due to market conditions or a preference for other digital assets.

On the other hand, 30.9% of participants reported having “made money” with BNB, indicating that many investors have had favorable experiences with the token. However, 27.3% of respondents stated that they had “lost money” on BNB, highlighting the volatile nature of the crypto market.

This news follows the recent completion of the 30th quarterly BNB burn by the BNB Foundation. A total of 1,634,200.95 BNB tokens, valued at approximately $1.16 billion at the time, were burned during the process. The burn process consists of two main components: the automatic burn mechanism and the Pioneer Burn, also known as the Anti-Black Hole Plan.

30th quarterly $BNB token burn has been completed directly on BNB Smart Chain (BSC).

1.63M #BNB has been burned. 🔥

View burn details 👇https://t.co/tmabJ0JAoH pic.twitter.com/dlUw8nRint

The automatic burn mechanism, which adjusts based on BNB’s price and the number of blocks produced on the BNB Chain, accounted for the majority of the burn, totaling 1,524,200.95 BNB. At the same time, the Pioneer Burn, which aims to assist users who have lost their BNB due to mistakes, burned a total of 110,000 BNB.

BNB Price Action to Watch: Market Turbulence

At the time of the poll, BNB was trading at $654.59, showing a 5.03% decrease over the last day. This price drop follows a downward trend, with the coin previously priced at $689.33.

The token has struggled to maintain prices above $650, indicating short-term volatility. Despite the price decrease, BNB's trading volume increased by 24.46%, reaching $1.78 billion.

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