🔥 $BNB Binance Burns $1.16 Billion in BNB Tokens in 30th Quarterly Event

◾️Total BNB Burned: 1,634,200.95 BNB

Binance has just completed its 30th quarterly BNB token burn, and the numbers are impressive. A total of 1,634,200.95 BNB tokens, worth approximately $1.16 billion, were burned. This significant burn event demonstrates Binance’s commitment to reducing the circulating supply of BNB tokens and maintaining the value of the token.

For some context, BNB token burns have been a regular occurrence since October 2017, with over 16.7 million BNB tokens worth approximately $208 million burned as of January 2020 ¹. These burns are an essential part of Binance’s token economy, helping to maintain the value of the token and incentivizing users to hold their BNB.

The BNB token plays a crucial role in the Binance ecosystem, serving as the native token of Binance Chain and Binance Smart Chain. It is used to pay transaction fees, and users can also use it to participate in token sales and other activities on the platform.