Hello, Pi42 Trading Titans! Today, we are so excited to announce that we have added yet another most sought after trading pair to the list – BNB/INR.
You must have heard all about this very interesting token. Now, let’s take a hard look at what a BNB token is and how to trade BNB/INR on Pi42.com.
What is a BNB token?
BNB token is a cryptocurrency issued by Binance, the world’s largest cryptocurrency exchange. It was initially utilised for discounted trading fees on Binance in 2017, but since then, its use-cases have increased tremendously.
BNB burn
Binance initially offered 100 million Binance tokens in its ICO, but the current total supply is now lower due to the regular practice of coin burning. Every quarter, Binance allocates one-fifth of its profits to repurchase and permanently eliminate Binance coins from its treasury.
Binance has consistently conducted these burning events, with the most recent one occurring on April 14, 2023. During this 23rd quarterly BNB burn, Binance permanently destroyed 2,020,132.25 BNB, equivalent to $676,744,304 USD worth of tokens. This event stands out as one of the largest in terms of U.S. dollars in the history of Binance’s coin burning practices.
Market cap and total supply
BNB’s current market cap stands at 4.86T INR and it’s circulating supply is 149.54M BNB.
How to Trade in BNB/INR on Pi42?
How to Trade in BNB/INR on Pi42?
- Log in: Access your Pi42 account.
- Navigate: Head to the trading terminal.
- Select the Pair: Choose BNB/INR from the dropdown menu.
- Define your Position: Enter the margin value, select your desired leverage, and adjust the percentage according to minimum asset requirements.
- Set Limits (Optional): Establish Take Profit and Stop Loss orders for risk management.
- Execute your Trade: Click Buy/Long or Sell/Short based on your market prediction.
- Track your Trade: Monitor your position in the orders and positions panel below the trading chart.
