The BNB chain has successfully burned over 1.8 million BNB tokens in a transaction completed on 19 April 2022.
According to data from Binance Explorer, 1,830,382.48 BNB were burned in the transaction. The token had a market cap of over $772 million at the time of burning.
1,830,382 #bnb Burned on (772,363,806 USD) #binancehttps://t.co/x1VxRpqgt1
— Whale Alert (@whale_alert) April 19, 2022
Binance CEO Changpeng Zhao previously Confirmed Withdrawal of over 1.8 million BNB. He also acknowledged the successful burn, saying that this activity is part of BNB’s white paper.
$741,840,738 value #bnb Will be taken out of circulation soon.
Real-time information: https://t.co/BikWciOHY7#bnb is deflationary. If you don’t know what it means, you lack the basic financial knowledge to be lucky in this world. Bitter but true. Learning time.
— CZ Binance (@cz_binance) April 19, 2022
19th BNB Burn
This is the 19th burn of BNB after Binance adopts an auto burn system that is triggered automatically by on-chain commands.[2022 की पहली तिमाही के लिए]Was.
The auto burn system allows the systematic removal of BNB from circulation and takes into account the price of the coin and the total number of blocks generated in a given quarter on the Binance smart chain. For Q1 2022, the total number of blocks was 2581627, with an average price of $403.22.
During the 18th burn, over $729 million worth of BNB was taken out of circulation.
1.8 million BNB (estimated at $769 million) is estimated to be taken out of circulation in the next burn. according to this information On the BNB chain, the 20th burn is expected to occur at an average price of $424.59.
BNB Chain plans to reduce the total supply from 200,000,000 BNB tokens to 100,000,000. As of the latest burn, a total of over 34.6 million tokens have been destroyed. The data shows that the currently circulating supply is more than 165.3 million.
At the time of writing, BNB is trading at $420, a 4.4% increase in the value of the coin over the past 24 hours. BNB/USD is up almost 7% over the past week.