CandleFocus Bitcoin Exchange Binance's Native Token Has Had Its 29th Token Burn! Here's the Amount of Burned Tokens
2024-11-01
Author: Content Editor
The BNB Foundation has completed its 29th quarterly token burn, removing around 1.77 million BNB from circulation. This final burn was done through the BNB Chain's Auto-Burn mechanism and supports the goal of reducing the total BNB supply to 100 million. The burn occurred through an Automated Burn system that adjusts the burn amount based on the market price of BNB and the number of blocks produced on the BNB Smart Chain. Future burns will be performed directly on the BNB Smart Chain, with the burned tokens sent to a "blackhole" address. Approximately 43.5 million BNB still needs to be burned to reach the target supply cap.
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