BEST • 3 min read
Welcome to this instalment of the Bitpanda Ecosystem Token Recap. In this series, you'll learn about all the developments that happened with BEST over the past few months, such as updates, token burns, rewards and more.
If you want to know what happened previously, you canfind some of our previous recaps here.
As you know, BEST burns are part of BEST's overall strategy and take place every quarter. On the 28th of January, we burned (destroyed) a record number of 35,722,204 BEST - the equivalent of €12,002,660. Just to compare with our previous burn event on the 29th of October, 2020: back then we burned 28,309,516 BEST - the equivalent of €2,462,928. Below you can find a little overview of what happened at our previous burn events:
Here you can read more about our last BEST burn from our CEO Paul Klanschek.
We’re happy to see the evolution of the BEST price over the last few weeks. Not to mention that the yearly increase was over 1,000%! Over the past weeks, we have witnessed several new all-time-highs and can’t wait to see BEST’s price at the end of the year.
Last month, we introduced the Bitpanda Card, which you can already pre-order here. With your new Bitpanda Card, you can spend any asset instantly (even BEST) and BEST VIP users can earn up to 2.00% cashback in Bitcoin (BTC), get unlimited free ATM withdrawals and also FX fee reductions. Find all the benefits here.
Have you already joined our BEST Telegram channels? Now might be the right time to join our passionate community and discuss all the BEST-related topics. You can also participate in our current giveaway, where six lucky users will win a Bitpanda merch packet. Don’t miss it, this giveaway is only running until the end of this month. You can find more details about our Telegram groups and the promotion here.
We are happy to see that the number of users claiming BEST rewards is steadily increasing each month alongside the amount of BEST being paid out as rewards.
In January, more than 70,000 users claimed their rewards, which is a 75% increase from December, when more than 40,000 users claimed their rewards! This number is our new all-time-high. Furthermore, we distributed 2,646,977 BEST to our Bitpanda users, compared to December 2020, when we paid out 2,478,454 BEST.
As you can see above, 26% of our active traders are currently using BEST to pay for their trading premiums. The slight decrease in this number might be attributable to the fact that our overall amount of active users has significantly increased, while not all of them are using BEST to pay for their trading premiums. Another explanation might be that due to BEST’s strong price increase, fewer users might be willing to sacrifice their BEST for trading premiums and fees.
We are excited that BEST is so popular with our users - don’t forget to keep an eye on our blog for more news regarding BEST and other projects!
Please note that we will stick to our policy to not report the exact amount of BEST collected for competition reasons.
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