Binance, one of the leading cryptocurrency exchanges worldwide. Binance Coin’s Q22 token burn has just been conducted. The token burn took place on December 15, 2020, with a total burn of approximately 8,657,700,000.843 BNB (worth approximately $176 million at time of burn) permanently.
Binance Reaffirms Commitment to Stabilization The token burning is part of Binance’s ongoing commitment to increase the utility and value of the token by reducing its total supply.
According to the report, Binance will use 20% of its quarterly profits to buy back and burn BNB until it reaches half of its total supply of 100,000,000 BNB.
Binance’s Q22 token burn marks its commitment to improving the stability and overall health of the Binance ecosystem.
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