- The BNB Foundation executed its 35th quarterly token burn, destroying 1.57 million BNB.
- This burn removed approximately $1.02 billion from the token's circulating supply.
- The total supply of BNB is now reduced to roughly 134.8 million tokens.
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BNB supply shrinks by 1.57 million tokens after $1.02 billion burn
The BNB Foundation has completed its 35th quarterly token burn, permanently removing 1,569,000 BNB from circulation, an amount valued at approximately $1.02 billion at the time of the transaction.
"This action is part of our ongoing commitment to reduce the total supply of BNB and enhance its deflationary characteristics," the BNB Foundation stated in an official announcement regarding the burn.
The burn effectively reduces the total circulating supply of BNB to approximately 134.8 million. This event is a core component of BNB's tokenomics, designed to systematically decrease the token's supply over time, contrasting with inflationary cryptocurrencies like Bitcoin.
By creating deflationary pressure, the burn aims to increase the scarcity and long-term value of BNB. This consistent adherence to its tokenomic model may bolster investor confidence in the BNB ecosystem and its native token, especially in comparison to other exchange tokens like FTT or CRO. This article is for informational purposes only and does not constitute investment advice.
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