Binance has successfully created a quarterly scheduled burn
This is the 17th routine burn created by the exchange since the first Binance token was created in 2017. Binance has not lost any scheduled burns to date and Binance continues to do these burns every three months. But the amount that burns every three months is 20% of its quarterly earnings which shows how much Binance has brought in that quarter. Also, according to the latest burn, it can be estimated that the company had revenue of more than $ 4 billion in the third quarter of 2021.
1,335,888 BNB burned
Binance announced on Monday that it had performed its 17th burn and BNB 1,335,888 had been burned. So based on the approximate price of BNB at the time of burning, more than $ 640 million worth of coins burned. But that’s not the end of the matter, and this exchange in the Pioneer Burn Program had also burned 17,839 BNB. This app was created to help users who have lost their assets in uncommon circumstances. But the largest number of tokens burned during this period was related to the 12th burn, of which 3,477,388 BNB tokens BNB tokens.
How many tokens are burned?
In total more than 31 million BNB tokens in the history of its scheduled burns. These burning BNB tokens continue until 50% of the total supply is taken out of circulation. (Burning 100 million BNB) This good performance of Binance Exchange shows that a good future awaits and operates according to its plans. Also after the burn, BNB saw a price increase and is now trading at $ 483.53.