Changpeng Zhao (CZ), the former CEO of Binance, shared the results of a poll asking users about their financial outcomes with Binance Coin (BNB). With over 53,000 responses, the poll offered three choices: “Yes, made money,” “No, lost money,” and “Never bought.”
Overall, did you make money on BNB?
(last poll for this round)
— CZ 🔶 BNB (@cz_binance) January 26, 2025
Out of 53,720 votes, 41.8% of respondents said they had “never bought” BNB. This shows that, despite Binance’s prominence in the crypto market, some users haven’t invested in the token yet, possibly due to market conditions or a preference for other digital assets.
On the other hand, 30.9% of respondents reported having “made money” with BNB, suggesting that many investors view the token favorably. However, 27.3% of participants stated they had “lost money” on BNB, highlighting the volatile nature of the crypto market.
BNB Completes 30th Quarterly Token Burn
This news comes after the BNB Foundation just completed its 30th quarterly BNB burn. A total of 1,634,200.95 BNB tokens, worth roughly $1.16 billion at the time, were burned. The burn process has two main parts: the automatic burn mechanism and the Pioneer Burn, also known as the Anti-Black Hole Plan.
The 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
— BNB Chain (@BNBCHAIN) January 23, 2025
The automatic burn mechanism, which adjusts based on BNB’s price and the number of blocks produced on the BNB Chain, accounted for most of the burn, a total of 1,524,200.95 BNB. Meanwhile, the Pioneer Burn, which aims to help users who’ve lost their BNB due to mistakes, destroyed 110,000 BNB.
BNB Price Action: Market Turbulence
At the time of the poll, BNB was trading at $654.59, with a 5.03% decline over the last day. This price drop follows a downward trend, with the coin previously priced at $689.33.
The token has struggled to stay above the $650 level, indicating short-term volatility. Even with the price decline, BNB’s trading volume rose by 24.46%, hitting $1.78 billion.
