The world’s largest cryptocurrency exchange announced the 23rd quarterly burn of its native token.
It was one of the largest in terms of USD value, with over $670 million worth of BNB destroyed.
- The announcement from Binance reads that the 23rd quarterly burn was completed, having removed from circulation just a little over 2 million tokens.
- It’s worth noting that roughly 656 BNB was destroyed through the Pioneer Burn Program, which allows users who have mistakenly sent some of their tokens to burn addresses to retrieve a portion of all of them.
- In terms of USD value, the 23rd quarterly burn was worth approximately $670 million, making it one of the largest. BNB has been on a roll lately, along with most of the market, reclaiming $300 and surging past $330 in the past two days.
- For more information on Binance’s burn program, please refer to this article.