A total of 1,634,200.95 BNB has been burned, worth approximately $1.16 billion at the time of burning.
BNB Chain burns $1.16 billion in the 30th BNB burn
BNB Chain has just completed the 30th quarterly BNB burn. A total of 1,634,200.95 BNB has been permanently removed from circulation, including:
1.5 million BNB automatically burned through Binance's Auto-Burn mechanism
110,000 BNB in the Pioneer Burn program.
The 30th quarterly $BNB Token Burn has been completed directly on BNB Smart Chain (BSC).
— BNB Chain (@BNBCHAIN) January 23, 2025
1.63M #BNB has been burned. 🔥
View burn details 👇https://t.co/tmabJ0JAoH pic.twitter.com/dlUw8nRint
The total value of this burn is estimated at around $1.16 billion at the time of the coin burn. Compared to the burn in November 2024, the number of coins and the value of the burn are similar. The BNB price also did not differ much at the two time points, hovering around $600-700. BNB also did not have a positive reaction after the news of the coin burn.
BNB price movement on the weekly chart, screenshot from CoinGecko at 02:05 PM on January 23, 2025
BNB Burn is an activity that Binance performs quarterly since the platform's inception. The project actively burns BNB until the total supply is reduced to 100 million from the initial 200 million coins.
After the latest burn, the next BNB to be burned is 42.4 million BNB, which means the current total BNB supply is 142.5 million.
Since the beginning of 2022, Binance has switched to a new mechanism called Auto Burn. Instead of calculating the value of BNB burned based on the exchange's revenue, Binance will use a formula to calculate the number of coins burned based on the BNB price and the number of BNB Chain blocks created within the corresponding time frame.
Compiled by Coin68
