Binance announced that it has burned 2 million 65 thousand 152 BNB worth $547 million.
Binance CEO Changpeng Zhao (CZ) made a post on Twitter yesterday about the upcoming BNB burn. The expected came true and Binance burned 2 million BNB.
548 Million Dollars of BNB Burned
According to the BNB Auto Burn procedure, the 21st quarterly BNB token burning of 2,65,152 BNB has been completed.
Binance CEO CZ announced yesterday in a playful way that he will be burning BNB by asking if there are any good BNB burning memes. He said that BNB is now deflationary after he stated that Binence was burning.
Binance, in a post on Twitter; Announced the 12th quarterly BNB burn.
#Binance Completes 21st Quarterly #BNB Burn!
🔥 2.06m #BNB has been burned 🔥 pic.twitter.com/VHvt1E4FzB
— Binance (@binance) October 13, 2022
Burning protocols are used to maintain the supply balance of crypto assets. This method, which was developed to make the asset used in BNB deflationary, has been among those who have been using it for a while.
In the last three months, 4 million 833 thousand BNB was burned. Finally, the 21st quarterly burning of 2 million 65 thousand 152 BNB has been completed.
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