$575 Million Worth of BNB Burnt by Binance

The world’s largest crypto exchange continues to burn BNB tokens as scheduled. Introduced roughly two years ago, the program allows users who have mistakenly sent some of their tokens to burn addresses to retrieve a portion of all of them. The latest – 21st – quarterly BNB burn saw more than 2 million coins removed from circulation. In terms of USD value at the time of the event, this token burn was worth roughly $575 million. As previously reported by CryptoPotato, the whole idea of Binance’s burning mechanism is to bring down the token supply from the initial 200 million to 100 million.

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