Binance completed the 19th quarterly BNB token burn of 1,839,786.26 BNB yesterday via BNB Auto-Burn. If you're wondering what BNB Auto-Burn is, read this 👇
Coin burning is a mechanism used to remove coins from circulation, reducing the total supply permanently. Many cryptocurrency projects perform periodic coin burns to create a deflationary effect.
Previously, the quarterly BNB burns were based on the BNB trading volume on the Binance exchange. But in December 2021, Binance announced that the Quarterly Burn would be replaced by the new BNB Auto-Burn.
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