BNB
by BSC News
October 17, 2022
BNB Chain performance and Binance ecosystem updates from the last week, including users, transactions, news and price movement.
Here are some key metrics of the performance of BNB Chain between Oct. 7-13:
Like every week, the Binance and BNB Chain ecosystem registered a series of significant developments in the week under consideration. These included the launch of the Binance Gift Card Merchant Incentive Program, the BNB Chain Moran hard fork, the 21st Quarterly BNB Burn, the Options Market Maker program launch, and more.
On Oct. 11, Binance announced the launch of its Gift Card Merchant Incentive Program. Scheduled to run till the end of the year, the incentive program is an exclusive program for Binance’s merchant partners. Through the program, merchants deemed eligible stand the chance to receive up to 5,000 BUSD in gift cards monthly when they sell Binance Gift Cards as crypto assets in a peer-to-peer format on any supporting exchange or platform.
Following the exploit of the BSC Token Hub bridge, a hard fork upgrade was implemented on BNB Chain on Oct. 12. According to a release on GitHub, the hard fork upgrade was “a temporary urgent patch to mitigate the cross-chain infrastructure between Beacon Chain and Smart Chain so that the cross-chain can be re-enabled back.”
As a part of its BNB Auto-Burn procedure, Binance, on Oct. 13, completed its 21st quarterly BNB token burn, which saw the destruction of 2,065,152.42 BNB tokens. It was also made up of 4,833.25 BNB that was burned via the Pioneer Burn Program.
On Oct. 13, Binance launched and commenced the Options Market Maker program. The blog post said the program was launched “to further enhance the liquidity on Binance Options and provide a better trading experience for all users.” Under the program, eligible Options market makers may receive higher maker fee rebates and lower taker fees across all Options symbols listed on Binance Options.
According to CoinMarketCap, $BNB exchanged hands at $274.89 as of writing. In the past week, BNB coin logged a 0.27% price decline.
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