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Binance Completes its 25th Quarterly BNB Burn

Published

6 months ago

on

Binance

Binance, the leading cryptocurrency exchange today completes its 25th quarterly BNB burn. BNB is the native crypto token of the Binance cryptocurrency exchange.

As per the official announcement, Binance burned a total of 2,139,182.98 BNB in this 25th quarterly burn event. This burn is a part of the BNB auto-burn procedure.

The 25th quarterly BNB burn can be verified on the blockchain via Txid. https://explorer.bnbchain.org/tx/F756A40911AC12732A8B2463F57FDC0E49B689D76BF7C53BA8B7A5CC8E5307F4

Binance introduces BNB auto burn in order to provide greater transparency and predictability to the BNB Community.

BNB Auto-Burn is both objective and verifiable, independent of revenues generated on the Binance CEX through the use of BNB and will be automatically adjusting in that the burn amount will be based on the price of BNB, which, in turn, reflects the supply and demand for BNB, as well as the number of blocks produced during a quarter calculated on the basis of on-chain information.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.