$BNB Chain completed its 36th quarter $BNB chip burn, permanently removing 1.61 million $BNBworth approximately $932 million, from circulation.
According to an official press release from the $BNB Foundation, a total of 1,615,827,795 $BNB Were sent to an inaccessible engraving address as part of the last engraving. The approximate value of the tokens at the time of the transaction was estimated at $931.7 million.
After the combustion process, the total amount of $BNB decreased to 133,166,127.91. $BNB Chain said that starting this quarter, token burns will be done directly on the $BNB Smart Chain and $BNB will be sent to the engraving address.
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$BNBThe quarterly burn mechanism aims to reduce the supply of tokens in circulation over time. The amount of $BNB to be burned is determined by an automated burning system that takes into account factors such as the number of blocks on the network and the price of the token.
Regular burning operations have not resulted in an increase in $BNB price. At the time of writing these lines, the $BNB The price has lost 0.6% in the last 24 hours.
*This does not constitute investment advice.
