The world’s largest cryptocurrency exchange Binance local token Binance Coin (BNB) made a new announcement about traditional burning.
According to the statement made by Binance, today is the 22nd burn. 2,064,494.32 BNB was burned. The approximate market value of these BNBs is $617,696,701 million Said to be around.
Binance made the following statements in its statement:
“BNB Chain has completed its 22nd BNB burn and the first quarterly burn of 2023.
The total automatically made BNB is 2,064,494.32, while the approximate value of these BNBs in USD is around $617,696,701.
This burning is done as part of a commitment to remove 100 million BNB (half of its total supply) from circulation through the incineration when BNB was launched in 2017, and ultimately keep only 100 million BNB in circulation. This commitment is fulfilled automatically every three months.”
In this context, when the burning process is completed BNB‘s total supply will be limited to 100 million units.
Binance CEO CZ also shared on Twitter. ” The 22nd BNB burning process was carried out. They say roughly equivalent to US$616 million.” said.
Roughly equal to $616m USD, they say. #BNB https://t.co/ezus5B1KEf
— CZ 🔶 Binance (@cz_binance) January 17, 2023
General cryptocurrency positively affected by the rally BNB It started today with a green candle and continues to trade at 301.4 just above $300.
*Not investment advice.
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