BNB Auto-Burn ⚠️😱
Binance burns US$ 1 billion in $BNB and the price could reach US$ 700.
Binance completed another crucial stage in its BNB deflation policy. On the morning of this Thursday (10), the exchange executed the 32nd quarterly token burn, removing 1,595,599.78 BNB from circulation. The operation, carried out through the BNB Foundation, withdrew from the market the equivalent of US$ 1.07 billion, based on the average quotation of US$ 660.16 per unit.
This burn follows the logic of the BNB Auto-Burn system, which replaced the old manual process. The mechanism uses a formula that considers the average price of BNB and the number of blocks generated in the BNB Smart Chain during the quarter. The formula is also adjusted according to network updates, such as the recent Lorentz and Maxwell, which increased the speed of block generation. #TrendTradingStrategy