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The $BNB Foundation announced that it has completed its 33rd $BNB burn. According to the company's official statement, 1,441,281.413 $BNB were permanently removed from circulation during this process.
$BNB Foundation Destroys $1.66 Billion Worth of $BNB in Its 33rd Burn
At the time of the burning, the market value of this amount was calculated as approximately $1.661 billion.
With this latest transaction, the total supply of $BNB has decreased to 137,738,379.26 units. The $BNB Foundation aims to reduce the total supply to 100 million $BNB in line with its long-term plan. Regular burns are implemented to control inflation within the $BNB ecosystem and support the token's long-term value.
The $BNB burn mechanism is based on Binance’s “Auto-Burn” algorithm, which automatically burns a certain amount of tokens each quarter, taking into account both on-chain transaction volume and $BNB’s price level.
In recent years, $BNB has evolved from being just the trading token of the Binance exchange to a core asset for smart contracts, DeFi projects, and NFT applications within the $BNB Chain ecosystem.
Experts state that the orderly reduction of supply will strengthen $BNB's long-term price stability and increase investor confidence in the ecosystem.
*This is not investment advice.