Binance burns BNB token worth almost $ 640 million

Binance burns BNB token worth almost $ 640 million

Binance recently completed its 17th token burn. Over 1 million BNB were pulled out of circulation, comparable to previous burns. Due to the increased token value, however, this is the highest calorific value of BNB.

bony announced The last fire on your website this morning-the 17th fire since the first in October 2017. According to the stock exchange, 1,335,888 BNB was removed. In dollars, this corresponds to $ 639,462,868 at the time of burns. Specifically, 1,318,049 BNB were actually burned, while 17,839 BNB were "effective" by the Pioneer Burn Program. The program counts for BNB, which was practically lost to dead addresses after sending BNB. This is more than the 1,296,728 BNB token that were destroyed in the previous burn, as well as the 1,088.888 Deleted in the 15th. The 14th combustion still puts this amount in the shade, which has pulled over 3 million tokens out of circulation at once. In Fiat, however, the latest combustion is the only one that has a value of over $ 600 million. The BNB market capitalization has increased significantly since the last burn. While almost $ 50 billion was reached on July 18, the total capitalization is now over $ 80 billion. This helps to explain the record -breaking dollar value of the destroyed tokens. The quarterly burns of Binance are processes that are specified in the network paper of the network. It has promised to continuously buy and burn BNB until the network supply is originally reduced to 100 million BNB. According to Coingecko, the current circulating range of BNB 168.137.035. .