Binance, the world’s largest cryptocurrency exchange, announced that it has completed its 23rd quarterly BNB burn. In the statement, it was stated that a total of 2,020,132 BNB was burned.
In a blog post on its official website on April 14, Binance stated that the exchange’s native token, BNB. 23. auto burn announced the completion of the transaction. As a result of burning within the scope of BNB automatic burning procedure 676 million dollars worth 2,020,132 BNB removed from circulation.
The completed transaction was carried out with Binance’s automatic burn mechanism. my fifth burn process happened. The automatic burning mechanism automatically calculates the number of BNB to be burned with a formula based on the BNB price and the number of blocks produced in the quarter.
Thanks to the automatic burning system in question, Binance 200 million the supply of BNB 50%equivalent to Remove 100 million BNB from circulation aims. Until the combustion processes reach the determined target to repeat every three months to be continued.
According to Coinecko data in the last 24 hours 4.2% appreciated BNB at the time of writing from $333.25 is being traded.