Binance Crypto Exchange To Increase Turnover Of Internal BNB Tokens
The leading trading platform Binance is going to increase the turnover of its own tokens Binance Coin (BNB) by 32 million. The new batch of coins will be launched within a few days, as the head of the exchange, Changpeng Zhao, informed on Twitter.
To fix $BNB circulating supply the way CMC calculates, we will move the unlocked balances out of the creator's addresses over next few days, in small txs as to avoid big fluctuations as suggested by CMC. And reach the final correct circulating supply of 144,443,301 $BNB on CMC.— CZ Binance (@cz_binance) September 22, 2018
Thus, the market offer of BNB will amount to 144 443 301. At the time of the publication, there are more than 112 million of internal Binance tokens in the network, and their amount can reach maximum 192 443 301, according to the CoinMarketCap resource. This crypto is ranked 16th in terms of market capitalization, and it outperforms Zcash as well as internal tokens of platforms Augur and Huobi.
As Changpeng Zhao explained, 32 million of new tokens are already unlocked and stored at the Binance creator’s address, and will soon be withdrawn and released into the circulation. The team shall follow the recommendations of CoinMarketCap and send funds via small transactions to avoid problems with the cryptocurrency volatility.
In the comments under Zhao’s tweet, users suggested that due to the larger circulation of coins, BNB's market capitalization will increase, and the token can become 13th in the rating. Now this position belongs to the TRON (TRX) crypto. Also, the community predicted the rally of internal Binance tokens.
One of the users urged to vigorously sell BNBs. Changpeng Zhao responded to this and asked the community not to panic or make deals by mistake.
“But make your own judgements. Nothing changes other than moving a few coins to different addresses,” he concluded.