$BNB Binance Coin was issued in 2017 before the launch of the Binance cryptocurrency exchange. During the initial coin offering (ICO), the token price was 1 ETH for 2700 BNB or 1 BTC for 20,000 BNB. Initially, the token operated on the Ethereum blockchain and was an ERC-20 standard token, with a supply of 200 million, half of which was distributed during the ICO.

Now Binance is destroying part of the tokens through a quarterly burn procedure. As a result of the latest quarterly token burn, 1.644 million BNB were removed from circulation, equivalent to 971 million dollars. The goal is to reduce the supply to 100 million to maintain the asset's price.