Binance Burns $636M in BNB
Reading Time: < 1 minute
Binance has recently completed its 26th BNB token burn, removing 2.1 million coins (1.41% of the total supply) worth approximately $636 million from circulation.
This burn program, initiated in 2017, aims to remove 100 million BNB (half of its total supply) from circulation.
As of 2021, the number of coins burned is determined using the Auto-Burn formula. The previous round of token burn, conducted in October 2023, resulted in the removal of 2.14 million BNB worth over $453 million.
In July, the exchange also burned 1.99 million BNB, valued at $484 million. The company also predicts a favorable future for the crypto industry, particularly in 2023.
Follow and like us on
