Binance announced the burning of 1.99 million BNB tokens as part of its 24th quarterly burn mechanism to reduce the total number of BNB tokens using a process known as BNB Auto-Burn.
#Binance completes the 24th Quarterly #BNB Burn!
1.99m #BNB has been burned
pic.twitter.com/7BLGMTxeba
— Binance (@binance) July 19, 2023
To date, Binance has burned 48 million BNB coins to bring the BNB supply to 100,000,000. It will use an Auto-Burn mechanism based on the BNB price and the number of blocks generated on the BNB Smart Chain (BSC) throughout the quarter.
Binance’s previous quarterly BNB burn of $542 million occurred on April 14 and burned 2,020,132.25 BNB tokens.
refer : binance
The post Binance Burns 1.99 Million BNB in 24th Quarterly Burn appeared first on Bitcoin Addict.