The BNB Foundation has completed a major token burn, destroying 1.6 million BNB, worth nearly $1 billion. The tokens were sent to an irreversible "black hole" address. This is the 28th quarterly burn event, bringing the total value of burned tokens to about $971 million. Since BNB moved from the Ethereum network to the BNB Chain in 2019, burning will continue until the total supply is reduced to 100 million units. In addition to quarterly burns, 234,000 BNB have been burned in real-time through gas since 2021. The previous burn on April 24 saw 1.9 million BNB destroyed. As of the news, BNB was trading at roughly $595.

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