A closer look at Binance's Q2 performance: spot volume is flat while futures are seeing growth

Binance, the largest crypto-to-crypto exchange based on reported volume, has finished its 12th quarterly burn on July 18th. The exchange took away the equivalent of $60.50 million in BNB from circulation, which is a 15.3% increase from $52.47 million in Q1 2020. This burn once again marks the largest burn Binance has ever made.

Binance has so far burned 23.59 million BNB (an equivalent of $358.54M) in 12 burn events, which represents about 11.8% of BNB's total supply of 200 million.