Binance the leading cryptocurrency exchange, has accounted highest quarterly volume received by the coin burn for Q1 2020. The Binance Whitepaper states that every quarter, it burns 20% of its profits. The study reveals that profit was made higher than $262.33 million in the Q1 of 2020. As per the report, Binance has burned 3,373,988 BNB, worth 52.4 million USD at the rate of $15.55 per token.