Posted 10/16/2023, 8:36:00 AM
Binance Burns Over $450M in BNB Tokens, Reducing Supply and Increasing Value
- Binance burned over $450M worth of BNB tokens in a quarterly move
- Over 2.1 million BNB tokens were burned
- Burning permanently removes tokens from circulating supply
- Makes BNB more valuable as supply decreases
- BNB powers Binance Chain ecosystem and BNB Smart Chain
- BNB was issued by Binance after an ICO in 2017
- Auto-burn system reduces BNB supply to 100M
- Auto-burn based on BNB price and BSC blocks generated
