BNB Chain Completes 27th Quarterly Burn, Removing $1.17 Billion from Circulation

IconCrypto News Terminal24 Apr, 2024

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BNB Chain Completes 27th Quarterly Burn, Removing $1.17 Billion from Circulation

BNB Chain, the underlying blockchain platform of Binance, has successfully completed its 27th quarterly burn, removing a significant amount of BNB from circulation, demonstrating its commitment to reducing the overall supply and increasing the value of the token for holders. The recent burn involved the destruction of 1,944,452.51 BNB, worth approximately $1.17 billion at the time of execution. This substantial reduction in supply aims to maintain the long-term stability and growth of the BNB ecosystem. The burn was announced via an official blog post on the BNB Chain website, highlighting the platform's dedication to transparency and its commitment to the BNB community. The latest burn brings the total number of BNB burned to date to over 48 million BNB, underscoring the project's dedication to supply reduction and enhancing the token's overall value. **Previously on April 24, 2024**, "BNB Chain has completed its 27th quarterly burn, removing 1,944,452.51 BNB (worth approximately $1.17 billion) from circulation."

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