• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

BNB Chain Removes 1.6 Million BNB From Circulation in Latest Token Burn

user avatar

by Giorgi Kostiuk

7 hours ago


BNB Chain has recently completed its 32nd quarterly token burn, removing 1,595,599 BNB from circulation, equivalent to over 1 billion dollars. This initiative aims to reduce the total supply of BNB and strengthen the network's deflationary model.

Significant BNB Burn

BNB Chain recently executed its 32nd quarterly token burn, destroying 1,595,599 BNB. This operation is part of the network's plan to reduce the total supply of BNB and illustrates a sustainable approach to creating a deflationary model.

Details of the Burn

Currently, the total amount of BNB destroyed has exceeded 60.7 million, which represents approximately 30.35% of the total supply. At current prices, this sum is equivalent to over 14.2 billion dollars. The token burn is executed using the Auto-Burn mechanism integrated into the protocol.

Market Reaction

Despite the significant token burn of over 1 billion dollars, the market did not show substantial reaction. As of now, Binance Coin trades at around 671 dollars. Binance founder CZ remarked, "Deflationary BNB," emphasizing the importance of this phase for the token's future.

The token burn process continues to be a crucial part of BNB Chain's strategy for reducing circulating supply. The long-term implications of this process could influence the token's scarcity, which may, in turn, determine its value.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Yapı Kredi Bank Introduces Cryptocurrency Trading Services in Turkey

chest

Yapı Kredi Bank officially announces the launch of a cryptocurrency trading platform, marking a significant development for Turkey's financial landscape.

user avatarGiorgi Kostiuk

Bitcoin Solaris Launches Nova App; BlockDAG’s X1 Miner Surpasses 2 Million Users

chest

Bitcoin Solaris launches Nova app, while BlockDAG's X1 miner has attracted 2 million users.

user avatarGiorgi Kostiuk

Bitcoin Hits Record High: New Peak at $113,700 Driven by Institutional Investments

chest

Bitcoin reached a new high of $113,700 due to institutional inflows and political factors.

user avatarGiorgi Kostiuk

Impact of US Dollar on Global Financial System in Q1 2023

chest

Exploring the factors affecting US Dollar reserves in Q1 2023 and their significance for the global economy.

user avatarGiorgi Kostiuk

Prospects of Solana and Success of Mutuum Finance in DeFi

chest

Solana is gaining momentum, approaching the $180 mark, while Mutuum Finance is successfully conducting its presale.

user avatarGiorgi Kostiuk

ChainCatcher Hosts Discussion on AI and Cryptocurrency Trends

chest

The ChainCatcher event focused on the synergy between AI and cryptocurrency, market impacts, and future trends.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.