KingData: Does the destruction of exchange platform tokens really have a big impact on the price?

BNB / HT / OKB / FTT / MX / MDX price comparison in the last 45 days

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BNB overview

The total amount of BNB issued is 200 million. According to the agreement in the white paper, Binance will use 20% of its net profit to destroy BNB every quarter. In 2021, it will propose an anti-black hole plan. The amount used in this plan will be included in the promised 20% % of net profit.

At present, a total of 29.4664 million BNBs have been destroyed, with a current total of 170 million and a total circulation of 149 million.

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The relationship between the total amount of BNB burned and the price

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HT Overview

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The relationship between the total amount of HT burned and the price

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OKB Overview

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The relationship between the total amount of OKB burned and the price

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MDX Overview

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MDX Burn Price Trend

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FTT Overview

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The relationship between the total amount of FTT burned and the price

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MX overview

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The relationship between the total amount of MX burned and the price

According to the statistical results, as the burning proceeds, the price of MX has risen steadily, but the increase is more of a cyclical reason, and the correlation between the number of burning and the price is not high.

To sum up, the currencies with strong correlation between price and correlation are OKB/MDX/FTT, and the ones with weak correlation are BNB/HT/MX.

The statistics in this data are all the data announced by each exchange. There are still some unpublished platform coins in the relevant destruction addresses. No statistics were performed.

To see platform currency data, go to KingData.https://www.ikingdata.com/download