1.6 million BNBs were burned at close to 1 billion dollars
The new burn of BNB, Binance's own ecosystem token, has been completed. In the statement made by the BNB Foundation, it was stated that the burned BNBs were irreversibly transferred to the address known as "black hole".
The BNB Foundation announced that 1,643,698 BNBs were burned within the scope of the token burning mechanism. While the 28th of the burning process, which has been going on for years on a quarter basis, was made, the total value of the burned tokens was approximately 971 million dollars.
The BNB token, which switched to BNB Chain from the Ethereum network in 2019, will continue to be burned until the total supply is 100 million units. According to the price of BNB and the number of blocks produced on a quarterly basis in the BSC network, the tokens burned were sent not to return to an address called 'black hole'.
In BNB, which also applied a real-time burn over gas fees, 234 thousand tokens have been burned since 2021.
