Binance burned BNB tokens by $ 740 million

Binance cryptocurrency exchange was carried out by the nineteenth quarterly burning of Binance Coin (BNB) tokens using the Auto-Burn mechanism.

1,839,786.26 BNB (~ $ 741.8 million at the time of writing), including 9403.78 BNB as part of the Pioneer Burn program, were displayed from the circulation.

As part of the previous round in January 2022, Binance burned 1,684,387,11 BNB, which in fiat equivalent amounted to $ 795 million.

At the end of 2021, Binance abandoned the concept of quarterly destruction of BNB in ​​favor of the mechanism of their automatic output from the appeal Auto-Burn.

https://gagarin.news/

The algorithm does not take into account the income generated by the Binance trading platform, but is based exclusively on the BNB price and the number of blocks obtained during the quarter. The program is folded when the total number of burned coins reaches 100 million.

Recall that in December 2021, the Bruno hard fork was held in BNB Chain on a block of 13,082,000, in which the mechanism of burning a fixed share of gas in each block was activated.

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