Summary
- BNB Chain said it burned Binance Coin (BNB) worth about $1.28 billion.
- The BNB Foundation said it burned a total of 1.37 million through its 34th quarterly regular BNB token burn.
- It said the goal is to reduce BNB’s total supply to 100 million, and that the burn amount is adjusted based on the BNB price and the number of blocks.
BNB Chain has burned Binance Coin (BNB) worth $1.28 billion (about KRW 1.9 trillion).
The BNB Foundation said on the 15th (local time) that it has successfully completed its 34th quarterly regular burn of BNB tokens. It is the first regular burn carried out by the BNB Foundation this year.
A total of 1.37 million BNB was burned in this regular burn. At current value, it is worth $127.7 million.
Since launching its mainnet in 2019, BNB Chain has conducted regular burns every quarter. The goal is to reduce BNB’s total supply to 100 million through regular burns.
The BNB Foundation explained that “the burn amount is adjusted depending on the BNB price and the number of blocks generated on BNB Chain each quarter.”
