Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Binance Completes its 22nd BNB Burn in the First Quarter of 2023

Published 2023-01-17, 12:50 p/m
© Reuters.  Binance Completes its 22nd BNB Burn in the First Quarter of 2023
BNBR3
-

Coin Edition -

  • Binance Chain has burnt around 2.06 Million BNB ($575 Milion).
  • The burn follows the Pioneer Burn, BNB Auto-Burn, and Real-Time-Burn (BEP95) mechanism.
  • Since 2017, Binance has burnt 100 million BNB, or half of its total supply, from circulation.

Binance (BNB) Chain has completed its 22nd BNB burn, which is the first quarterly burn of 2023. As per its official website, the Chain has burnt around 2.06 million BNB ($575 million).

The burn includes the Auto-Burn and the Pioneer Burn Program. BNB burned from the Pioneer Burn Program includes 7,181.03 tokens, whereas the Autoburn Program includes 2,057,313.29 BNB.

Since 2017, Binance has removed 100 million BNB, or half of its total supply, from circulation using a burning process. For the uninitiated, burning helps the price of the cryptocurrency increase.

The website has revealed that, just like the 21st BNB burn, this time too, the burn has been done as per the mechanisms of Pioneer Burn, BNB Auto-Burn, and Real-Time-Burn (BEP95). Again, all of these mechanisms are transparent and independently verifiable.

Since the launch of BEP95, Binance has burnt more than 145,000 BNB using this mechanism.

The post Binance Completes its 22nd BNB Burn in the First Quarter of 2023 appeared first on Coin Edition.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.