The BNB Foundation has just concluded its 29th quarterly token burn where more than 1.7 million BNB was burned, equating to $1.07 billion and that's huge.
Why BNB burned token?
Based on it's module BNB is deflationary token and with that module tokens has to be burned and removed from the token supply.
BNB Current Supply After Burn is: 144,099,981.1 BNB
And they will burn 43,533,387.84 BNB more after that it will be stopped.
Will it increase the price of $BNB ?
Change in price is based on demand. you might have heard this prices are dependent on supply and demand.
If there is less supply and more demand the price will go up.
Binance stands as number 1 crypto exchange and there is definitely demand for it.
As the supply is getting burned and demand keeps on increasing i think it's good for the price in the long term.
