Binance Coin (BNB), which is in the ranking of the third largest cryptocurrency by total market value, has moved again with a news. Binance Coin has experienced a serious decline especially since the Solana storm started and temporarily fell to the 6th place. The good news that Binance gave one after another seems to have changed this situation.
Binance Burns Millions
Binance Coin first moved with the $1 billion BSC fund, followed by the news of the expected token burning. According to the post shared by Binance CEO Changpeng Zhao himself, this time Binance $639 million BNB lit. This is actually a total of $639 million worth. 1,335,000 number of BNB It means that it is completely removed from circulation.
Although the number of tokens was much higher in previous token burnings, this burning process actually went down in history due to the price. Binance previously burned 1,099,000 BNBs totaling $595 million for its 15th token burn in April. In the following July, a total of 1,296.000 BNBs were burned, but due to the falling price, its value was limited to only 393 million dollars.
Just took $639,000,000 USD worth of #BNB out of circulation, permanently. https://t.co/soXlS24PIk
— CZ 🔶 Binance (@cz_binance) October 18, 2021
Binance broke the previous record for the number of tokens by burning 3,374,000 BNB in April 2020. As the token value increased, the number of tokens decreased, but the value of the total amount burned continued to increase.
*Not Investment Advice.