Binance Burns Record $600 Million BNB In Its 15th Quarter

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Earlier this week, Binance announced through a blog post that it had burned nearly 1.1 million BNB tokens, which was worth $600 million at the time, in its latest quarterly burn. The total supply of BNB decreased from 170 million BNB to 169 million BNB. What is Coin Burning? Coin burning is a process in which tokens are removed from circulation, which would reduce the total circulating supply of said coin — leading to lower inflationary pressures. A limited supply often leads to positive price action, which is beneficial to both Binance and BNB holders. According to Binance’s infographic, the 1.1 million BNB tokens burned represent a mere 0.65% of total supply — a sizable drop from 1.81% last quarter. While the sheer volume of tokens burned pales in comparison to previous quarters, Binance’s 15th burn is certainly the highest in dollar value. This is simply due to each BNB…

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