• BNB Chain burns 1.58M tokens, worth $916M, reducing supply to control inflation.
• BNB Foundation targets reducing total supply to 100M tokens through quarterly burns.
• Despite the burn, BNB’s price remains stable with slight short-term fluctuations.

BNB Chain, the blockchain network supported by Binance, completed its 31st quarterly token burn using its established Auto-Burn mechanism. 

This latest event permanently removed 1.58 million BNB tokens, valued at roughly $916 million, from circulation.

The BNB Foundation confirmed the exact number, destroying 1,579,207.716 BNB tokens. This burn continues the strategy to reduce BNB’s total supply; over 40.88 million BNB still need burning to reach the 100 million target from the current supply of approximately 139.31 million BNB. 

The Auto-Burn process itself is open and formulaic. The amount burned each quarter adjusts based on BNB’s price and the number of blocks produced on the Binance Smart Chain (BSC). Burned tokens are sent to a verified “blackhole” address (0x00…00dEaD), ensuring they are permanently destroyed and irrecoverable.

Related:…

The post BNB Price Impact Minimal After Latest $916 Million Scheduled Token Burn appeared first on Coin Edition.

• BNB Chain burns 1.58M tokens, worth $916M, reducing supply to control inflation.
• BNB Foundation targets reducing total supply to 100M tokens through quarterly burns.
• Despite the burn, BNB’s price remains stable with slight short-term fluctuations.

BNB Chain, the blockchain network supported by Binance, completed its 31st quarterly token burn using its established Auto-Burn mechanism. 

This latest event permanently removed 1.58 million BNB tokens, valued at roughly $916 million, from circulation.

The BNB Foundation confirmed the exact number, destroying 1,579,207.716 BNB tokens. This burn continues the strategy to reduce BNB’s total supply; over 40.88 million BNB still need burning to reach the 100 million target from the current supply of approximately 139.31 million BNB. 

The Auto-Burn process itself is open and formulaic. The amount burned each quarter adjusts based on BNB’s price and the number of blocks produced on the Binance Smart Chain (BSC). Burned tokens are sent to a verified “blackhole” address (0x00…00dEaD), ensuring they are permanently destroyed and irrecoverable.

Related:…

The post BNB Price Impact Minimal After Latest $916 Million Scheduled Token Burn appeared first on Coin Edition.