Binance Coins’ 22nd Quarterly Burn removes 2 Million BNB Tokens

Binance is once again making headlines following its quarterly burns. Earlier today, the exchange revealed that BNB Chain executed its 22nd BNB burn. Through this initiative, the exchange carried out the burn and removed $600 million worth of Binance Coin [BNB] from its supply.

The proof of burn showed that 2,064,494.32 BNB were taken out of the supply. This was precisely valued at $617,696,701 and accounted for 1.3 percent of the supply. The burn took place at 08:00 UTC through the transaction 34167E903B9F662A64817266D8A6CE4FE096868DAD0B883E4F838331E280EEFF.

This burn initiative was started by Binance in order to remove 100 million BNB tokens from its supply. This is half of the asset’s total circulation. Binance introduced this mechanism during the last quarter of 2021. The CZ-led exchange intends to carry this one till there are only 100 million Binance Coins in circulation.

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10,000 mlx total
$0.00502775 total
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10,000 mlx paid to g/cryptomarket by @price