Binance exchange BNB has completed the automatic burning process. The stock market is the 2nd of 2023. it burned 1 million 991 thousand 854 BNB in the quarter. The completion of the burning activity was also officially announced on the stock exchange's website.

The Binance exchange has completed a new transaction of its mechanism, which it started in 2020 and switched to automatic burning in 2021. According to the statement, the 2 of 2023. as of the quarter, 1,991,854 BNB units were burned. The total value of the burned BNB was about $ 620 million.

A total of 48 million 142 thousand BNB have been burned so far, while there are still 153 million BNB in circulation. As it is known, the incineration operations will continue until the supply of BNB reaches 100 million units.

According to the calculations made, approximately 2 million 100 thousand BNB units will be out of circulation in the next burning activity. In the previous burn, this figure was 2 million 20 thousand units.

As it is known, the “BNB automatic combustion program” is made based on price and supply-demand dynamics. For example, when the price of BNB falls, the number of BNB burned increases in order to prevent further decrease in value. #Binance #BNB #BTC #dogecoin #pepe