Binance destroyed 1.94 Million Binance Coin Tokens to remove them from circulation.
Binance, the cryptocurrency exchange announced that it has completed its 27th quarterly Binance coin (BNB( token burning, which removed $1.17 billion in coins from circulation. BNB was destroyed in a volume equivalent to approximately 1,3% of its total supply.
This time the Pioneer Burn Program did not involve burning tokens.
BNB’s token price did not react when the news broke about token burning. According to CoinMarketCapIn 24 hours the token’s value dropped by 0.9%, to reach $600.
The token price has risen by 13% in the last week despite Recent News The U.S. is seeking to sentence Binance’s founder Changpeng Zhao to three years in prison.
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BNB’s capitalisation dropped 2.2%, to $88 Billion. Trading volumes, however increased by 1.4%.
Binance is a newer cryptocurrency. Removed In January, approximately 2,14 million BNB valued at $636 millions were taken out of circulation. BNB was destroyed in a volume that equaled approximately 1.38 percent of total assets.
Launch of BNB In 2017, the commitment to burn 100 million coins, or half of all coin supply was taken. This offer is executed automatically every quarter, and the formula for auto-burning calculates it.
Representatives from Binance explained that the process is transparent, auditable and independent. Centralized exchange. BNB Chain also continuously burns on its premises a part of the fees for gas. The following are some examples of the use of Real-time.