$1,000,000,000 in Binance Coin (BNB) Just Gone Forever: What's Happened?
2025-07-10 11:56:42
Main Idea
Binance completed its 32nd quarterly BNB token burn, removing 1,595,599 BNB (worth over $1.02 billion) from circulation as part of its supply reduction plan, with minimal immediate market impact.
Key Points
1. Binance burned 1,595,599 BNB (worth $1.02 billion) in its 32nd quarterly token burn, permanently reducing supply.
2. The total burned BNB now exceeds 60.7 million (30.35% of total supply), worth over $14.2 billion at current prices.
3. The burn was executed via BNB Smart Chain's Auto-Burn mechanism, differing from manual or marketing-driven burns.
4. BNB's price remained stable at around $671 post-burn, mirroring past burns' muted market reactions.
5. Binance founder CZ highlighted the deflationary nature of BNB, emphasizing scarcity as a key factor in crypto valuation.
Description
Binance just burned $1 billion worth of cryptocurrency, BNB price reaction inside
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