Cryptocurrency exchange Binance has completed its eighteenth quarterly Binance Coin (BNB) token burn using the Auto-Burn mechanism.
#Binance completes 18th quarterly #BNB burn.
🔥🔥 $795M USD has been burned! 🔥🔥https://t.co/BsLqhtsovc
— Binance (@binance) January 17, 2022
1,684,387.11 BNB (~$795M at time of writing) has been withdrawn from circulation. Of these, 6,296.305493 BNB were burned as part of the Pioneer Burn program.
In January 2021, Binance burned 3,619,888 BNB, or $165.8 million in fiat. The previous record was set in October 2020 when the exchange retired 2,253,888 BNB.
Recall that at the end of 2021, Binance abandoned the concept of quarterly destruction of BNB in ​​favor of the Auto-Burn mechanism for their automatic withdrawal from circulation.
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