Find out the difference between the last BNB digital currency burning process and the previous ones!
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Answer Find out the difference between the last BNB digital currency burning process and the previous ones!
Binance recently completed its 17th BNB burn.
Over 1 million BNB have been removed from circulation.
Compared to previous burns, this burn is the most valuable so far, due to the increase in the value and price of the currency.
announced Binance reported the latest burning on its website yesterday, and indicated that it is the 17th burning since October 1, 2017.
According to Binance, 1,335,888 BNB have been removed.
This dollar value is equal to $639,462,868 at the time of burning.
Specifically, 1,318,049 BNB were burned, while 17,839 BNB were burned through the “Pioneer Burn” program from Binance.
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This program calculates BNB that is practically lost after sending BNB to dead addresses.
This latest burn is larger than the burns in previous quarters, with 1,296,728 BNB destroyed in Burn Number 16 in addition to 1,088,888 BNB cleared in Burn 15.
In terms of the amount of BNB burned, the 14th burn is the largest, with 3 million BNB burned.
Whereas, in dollar terms, the latest burn is the most valuable.
The market capitalization of BNB has increased significantly since the last burn.
While the total market capitalization of BNB was estimated at $50 billion on July 18, today that value has exceeded $80 billion.
Binance’s quarterly burns are actions defined in the coin’s white paper.
Binance has promised to continue buying and burning BNB until the network’s supply is reduced to 100 million BNB, out of 200 million BNB.
Currently the circulating supply is 166,801,148 BNB, according to coinmarketcap.
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