š„ Binance, the world's largest crypto exchange, has just burned a whopping $450 million worth of BNB tokens in its 25th quarterly token burn! š
Over 2.1 million BNB tokens were completely destroyed during this latest burn, including 314.69 BNB via the Pioneer Burn Program, designed to help customers who've lost access to their tokens. š„
Launched in 2017, BNB Auto-Burn aims to provide an independently auditable, objective process. Binance pledged to eliminate 100 million BNB tokens (half of its total supply) through this burning procedure. š”
So far, billions of dollars have been burned quarterly, with the amount determined by the Auto-Burn formula, ensuring only 100 million BNB tokens remain in circulation. š
As for BNB's price, it gained a modest 3% over the past day, trading at $213, but is still 13% down year-to-date (YTD). š Stay tuned for more exciting BTC news! š