Token Burn Wars Heat Up as Huobi Outpaces Binance

Everybody likes a good supply-sapping token burn. The first quarterly kilning of native exchange tokens took place in October of 2017 at Binance, and burning is now conducted by Huobi and Bitfinex, as well as Tether when trouble brews and people want their real dollars back, among others.

Binance has conducted its ninth quarterly BNB burn, subjecting 2,061,888 BNBs to death by fire. That’s the equivalent of around $36.7 million. Back of the envelope calculations, given the exchange burns twenty percent of its profits for the quarter, suggests the company made something in the order of $186 million in Q3, its second most successful quarter ever.