The BNB Foundation has completed its 30th quarterly burn of BNB tokens, reducing the total supply by over 1.6 million BNB valued at $1.16 billion. The foundation still needs to burn another 42.47 million BNB to reach its target of 100 million BNB in total supply. They utilized the Auto-Burn mechanism introduced in BEP-95 to burn over 1.5 million BNB, while the remaining 110,000 BNB were burned through the Pioneer Burn program. The foundation plans to continue utilizing the Auto-Burn system to gradually reduce the total supply of BNB tokens. The burns will occur directly on the BNB Smart Chain (BSC) to ensure predictability and transparency. Binance CEO Richard Teng released a statement emphasizing that crypto adoption is still in its early stages and that the industry's momentum is only accelerating in 2025.



Other News from Today