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Binance Completes 24th Quarter Burn with 1.99M BNB Tokens

19.07.2023
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Binance Completes 24th Quarter Burn with 1.99M BNB Tokens

  • Binance burned a total of 1,991,854.33 BNB tokens this quarter.
  • This is expected to boost the BNB trading price in the upcoming days.

Binance, the world’s largest crypto exchange, announced that it had completed its 24th quarterly burn. There is a massive amount of BNB tokens that are burned in this quarterly burn. This time, the exchange includes the Auto Burn as well as the Pioneer Burn program.

The 24th quarterly $BNB token burn has been completed through #BNB Auto-Burn.
Here’s everything you need to know about the third quarterly burn of 2023 as well as some insight into what lies ahead for the BNB ecosystem ⬇https://t.co/urAhKrDv6r

— Binance (@binance) July 19, 2023

On July 19, the crypto exchange Binance completed its 24th and third quarterly BNB burn in 2023. A total of 1,991,854.33 BNB tokens burned in this quarter. The approximate value of the burn is around $484,160,000. According to the report, the Pioneer Burn program has burned 747 BNB tokens, and through the auto burn, 1,991,106.82 tokens removed.

Changpeng Zhao, the CEO of the crypto exchange Binance, has stated that the quarterly burn has completed, according to the public algorithm. Moreover, he mentioned that there will be some large on-chain transactions shortly. Moreover, this expected to boost the BNB trading price in the upcoming days.

At the time of writing, the trading price of BNB is around $241, with a decline of over 0.28% in the last 24 hours. The trading volume of the BNB has experienced an increase of around 0.35%, according to CoinMarketCap.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

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