Binance burned BNB tokens worth more than $500 million – Bits Media

The largest cryptocurrency exchange of Binance has completed the quarterly burning of BNB tokens in the amount of more 2 Milly pieces in the amount of about $500 million.

Now the BNB token is traded at the mark $209 With general capitalization $32 billion, They say CoinmarketCap data. The burning occurred with using the Pioneer Burn and Auto-Burn program, Representatives of the company told.

In total, the exchange is collecting to burn 50% General proposal of tokens to achieve volume B100 million BNB.

BNB was launched in 2017 year on the Ethereum blockchain. After the launch of Binance Smart Chain, tokens were transferred to this network. It was originally released 200 million BNB, However, with the help of quarterly burning, the exchange gradually reduces the number of available coins. The number of tokens burned is determined by the volume of bidding on Binance. Considering, that now the lion's share of cryptocurrency transactions is being made on the site, the volumes of BNB burned are constantly growing.

In July, Binance held the previous quarterly burning of tokens. Market value 2 Milln destroyed BNB then compiled $480 million.

Recently, the BNB token has been published on BITS Media.