#BNBToken
The BNB Foundation completes the token burn.
The BNB Foundation completed the 30th quarterly burn of BNB tokens, reducing the supply by more than 1.6 million tokens, worth 1.16 billion dollars. 42.47 million BNB remain to be burned to reach the goal of 100 million. They used an automatic burn mechanism to clear more than 1.5 million BNB, leaving 110,000 BNB that validators had left staked “now unrecoverable.” These tokens were considered burned, and validators were compensated through the Pioneer Burn Program.
The BNB Foundation plans to use an Auto-Burn system to gradually reduce the supply of BNB, based on the price of BNB and the number of blocks generated. Future burns will be conducted directly on the BNB Smart Chain, and the amounts will be sent to a “hole” address. A real-time burn mechanism based on gas fees will also be implemented, which has already burned nearly 248,000 BNB since the introduction of BEP-95. The BNB Pioneer Burn Program will continue to help users recover lost BNB and tokens.
On the other hand, Binance CEO Richard Teng stated that the adoption of cryptocurrencies is in its early stages. He said that the belief that it is too late to enter cryptocurrencies ignores future opportunities. Teng emphasized that the perception of what is possible in this market continues to change, and the industry's momentum is expected to accelerate in 2025. A step-by-step system to secure jobs in Web3 in 90 days is also mentioned.