#Binance BNB Burn Ignites Value: Token Reduction of $916 Million Fuels Enthusiasm.
Binance co-founder Changpeng Zhao (CZ) announced a significant deflationary milestone, confirming the completion of the 31st quarterly burn of BNB Chain tokens.
In total, 1.57 million BNB, valued at approximately $916 million, were permanently removed from circulation.
BNB Chain Burns Tokens in 31st Quarterly Event
The BNB burn is part of BNB Smart Chain's long-term commitment to reduce the total supply of the token and potentially increase its value over the long term. According to an official blog post, this quarter's burn was successfully completed.
The remaining total supply of BNB stands at just over 139 million. Former Binance CEO Changpeng Zhao reiterated the update with a simple post on X (Twitter).
“$916,000,000 BNB burned,” CZ wrote.
They sent the tokens to a burn address, 0x000…dEaD, making them unrecoverable and effectively reducing the total supply. The burn occurred under the BNB Auto-Burn mechanism and marks one of the largest events in the chain's history.
Established under BEP95, the BNB Auto-Burn system provides transparency and predictability. It adjusts the amount of burn based on the market price of BNB and the number of blocks generated on the BNB Smart Chain (BSC) each quarter. The goal is to gradually reduce the circulating supply of the token to 100 million BNB.
Once this happens, regular burns will cease. Deflationary mechanisms are typically bullish, but the market reaction was lukewarm. The price of BNB fell by 2.11% in the last 24 hours, trading around $578.04 at the time of writing.
