The 23rd quarterly burn of its native token has been announced by the world’s largest cryptocurrency exchange.
The burn was among the largest in terms of USD value, destroying over $670 million worth of BNB.
- Binance’s announcement confirms that the 23rd quarterly burn has been completed, with just over 2 million tokens removed from circulation.
- It’s worth noting that around 656 BNB was destroyed via the Pioneer Burn Program, which enables users who have mistakenly sent some of their tokens to burn addresses to retrieve some or all of them.
The 23rd quarterly $BNB token burn has been completed through #BNB Auto-Burn.
Here’s everything you need to know about the second quarterly burn of 2023 as well as some insight into what lies ahead for the BNB ecosystem ⬇️
— Binance (@binance) April 14, 2023
- The 23rd quarterly burn was worth roughly $670 million in USD value, making it one of the biggest. BNB has been performing well recently, along with most of the market, having reclaimed $300 and surged to over $330 in the past two days.
- For more information on Binance’s burn program, see this article.