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- Binance has burned a total of 1,991,854.33 BNB tokens this quarter.
- This is anticipated to enhance the BNB trading price in the forthcoming days.
Binance, the largest cryptocurrency exchange globally, has declared the completion of its 24th quarterly burn. A significant quantity of BNB tokens has been incinerated during this quarterly event. This time, the exchange incorporated both the Auto Burn and the Pioneer Burn program.
The 24th quarterly $BNB token burn has been finalized via #BNB Auto-Burn.
Here’s all you need to know about the third quarterly burn of 2023 along with some insights into the future of the BNB ecosystemhttps://t.co/urAhKrDv6r
— Binance (@binance) July 19, 2023
https://t.co/urAhKrDv6r
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On July 19, the cryptocurrency exchange Binance finalized its 24th and third quarterly BNB burn for 2023. A total of 1,991,854.33 BNB tokens were burned this quarter, with an estimated value of approximately $484,160,000. The report indicates that the Pioneer Burn program accounted for 747 BNB tokens, while the auto burn eliminated 1,991,106.82 tokens.
Changpeng Zhao, the CEO of Binance, confirmed that the quarterly burn has been executed according to the public algorithm. He also noted that significant on-chain transactions are expected soon. Furthermore, this is likely to elevate the BNB trading price in the upcoming days.
At the time of this report, the trading price of BNB is approximately $241, reflecting a decrease of over 0.28% in the past 24 hours. The trading volume of BNB has seen an increase of about 0.35%, as per CoinMarketCap.
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