The world's largest cryptocurrency exchange Binance has made a new announcement regarding the traditional burning of its native token Binance Coin (BNB).
According to the statement made by Binance, 2,020,132.25 BNB was burned in the 23rd burn that took place today. It is stated that the approximate market value of these BNBs is around $ 676,744,303 million.
Binance made the following statements in its statement:
“BNB Chain has completed the burn of 223 BNB and the second quarter of 2023.
The total automatically made BNB is 2,020,132.25, while the approximate value of these BNBs in USD is around $676,744,303.
This burning is done as part of a commitment to remove 100 million BNB (half of its total supply) from circulation through the incineration when BNB was launched in 2017, and ultimately keep only 100 million BNB in circulation. This commitment is fulfilled automatically every three months.”
Binance CEO CZ also shared the news of the BNB burn.
— Binance (@binance) April 14, 2023
BNB, which was positively affected by the general cryptocurrency rally, especially Bitcoin (BTC) and Ethereum (ETH), started today with a green candle and continues to be traded at $ 334.
*Not investment advice.