Binance burns BNB worth $ 620 million

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Von: Krypto News Österreich

The world's largest cryptocurrency exchange continues to pursue the goal of reducing the overall BNB to 100 million.

For this purpose, the company announced the conclusion of the 22nd burning of its native tokens.

  • The explanation of Binance informed that 2.064 million BNB were taken out of circulation, which is worth almost $ 620 million at today's prices.
  • The 22nd burn was the largest since the record-breaking 14th in relation to BNB token, which took place two years ago.
  • 7.181 of the 2,064 burned people came from the company's Pioneer Burn Program. The function was introduced in 2020 and is said to help people who have lost access to their BNB token after they have been asked about the customer service and approved by the stock exchange.
  • The Pioneer Burn program works alongside the other BNB burning processes, of which you can find more here.

Burn!

🔥 2,06m pic.twitter.com/21v9r7h78k

-Binance (@binance) 17. January 2023

  • The native cryptography of Binance has been on the advance with the rest of the market since the beginning of the year. It started in 2023 with around $ 240, but rose in the following weeks.
  • This culminated on Saturday in an increase to $ 315, which has been the highest price of BNB since the end of November 2022. Although the asset has decreased slightly since then, it is still being traded over $ 300.