Binance Coin’s function has disillusioned many crypto traders in September 2022. However, the token has managed to perform well on other sides including the number of burned tokens in the third quarter of 2022.
Binance Coin (BNB) is one of the most accessible utility tokens, and it, like many other cryptocurrencies, is traded on the Binance market. Binance Coin (BNB), denoted by the symbol BNB, was created by the Binance exchange.
Binance Coin tokens burned in the third quarter of 2022 was 2,040,503.56, which is on average higher than the record of the second quarter of 2022. This is while the average trading price for BNB has been lowered in the third quarter compared to those of the second. According to BNBburn, the Q2 value was $626,356,129.623 and the Q3 value was $562,592,435.15.
Currently, Binance Coin price is around $275, disappointing its owners about the future of the asset.
But it is not only the price of this asset that has declined, but its one-day circulation has not been performing any better.
At the time of this press, the value of BNB NFT trades is $1.52 million, which shows that traders are most active in the NFT sector.
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BNB is currently bearish with its value at -4.3, and BNB has failed to hold on support and resistance continually.
All that being said, it’s quite normal for the BNB traders and investors to be disappointed by the future of the asset as there would be less profit and there is no sign of recovery for Bitcoin and BNB is following the same trend.
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