Member-only story
Great news! Binance has successfully burned over 2 million BNB tokens
With the price of BNB at $333, less than half its all-time high, Binance celebrated its 23rd quarterly burn by toasting about 2,020,132.25 BNB, removing $674 million from circulation.
About 155.2 Million BNB are Currently in Use
In 2020, the exchange will launch a program called the Pioneer Burn Program to aid consumers who lose funds due to sending them to the incorrect location. The most recent burn involves roughly 656 BNB ($218,000).
The quantity of BNB burned automatically varies based on the current price of the currency and the pace at which new blocks are added to the BNB Chain. In October of 2017, when Binance’s token was worth $1.52, the exchange conducted its first quarterly burn.
The current total of BNB is 155,166,772.80 after the most recent auto-burn.
Positive Price Prospects for BNB After Recent Burn
The price first verified a long-term descending resistance line as support (green symbol) after breaking above it. This started the current upward trend and produced a lengthy lower wick.
The number of waves also indicates an increase. According to the chart, the current price action is probably white…
