{"id":68527,"date":"2022-10-13T13:04:59","date_gmt":"2022-10-13T10:04:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68527"},"modified":"2025-09-07T14:35:26","modified_gmt":"2025-09-07T11:35:26","slug":"binance-burns-bnb-worth-more-than-547-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-burns-bnb-worth-more-than-547-million\/","title":{"rendered":"Binance burns BNB worth more than $547 million"},"content":{"rendered":"<p>Binance, the cryptocurrency exchange, conducted its 21st quarterly burn of Binance Coin (BNB). 2.06 million tokens were removed from circulation, worth more than $547 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> Completes 21st Quarterly <a href=\"https:\/\/twitter.com\/hashtag\/BNB?src=hash&#038;ref_src=twsrc%5Etfw\">#BNB<\/a> Burn!<\/p>\n<p>\ud83d\udd25 2.06m <a href=\"https:\/\/twitter.com\/hashtag\/BNB?src=hash&#038;ref_src=twsrc%5Etfw\">#BNB<\/a> has been burned \ud83d\udd25 <a href=\"https:\/\/t.co\/VHvt1E4FzB\">pic.twitter.com\/VHvt1E4FzB<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1580478795760340994?ref_src=twsrc%5Etfw\">October 13, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Under the Pioneer Burn initiative, 4,883 BNB were burned.<\/p>\n<p>Binance has sought to remove 100 million tokens from circulation since 2017, or half of the supply. The number of tokens to be burned is automatically calculated by the Auto-Burn formula. The exchange <a href=\"https:\/\/u1f987.com\/en\/news\/binance-abandons-manual-bnb-burning-in-favour-of-new-auto-burn-algorithm\">switched to this mechanism<\/a> at the end of 2021.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBNB Auto-Burn provides a verifiable, objective process, independent of the centralized Binance exchange. In addition, the BNB Chain continues to burn a portion of gas fees in real time <a href=\"https:\/\/u1f987.com\/en\/news\/bruno-hard-fork-on-the-binance-smart-chain-has-taken-place\">as part of the gas burn<\/a>,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bnb\">CoinGecko<\/a>, BNB fell 2.6% in the last 24 hours. The asset trades near $265, with quotes briefly slipping to $262.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/rpnrX4RMUUD43sF9mD11kK81q4vCjK1dhCocAvz2BN-IO01KPnYwdk3tk63Q0ZUPhaq66Yczivt53AzX2v-t9IraNRUxxCv1Hqb5zcNFw0jEUvJ-UioYU_VwcxItNCvDJBCQXGXLtT4Vi-qFnhVUtxIsvp0N7puQfx9rupX9fbcKy69uKTCkNIeI\" alt=\"Binance burns BNB worth more than $547 million\"\/><figcaption>Five-minute chart of BNB\/USDT on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>In September 2022, Binance introduced the <a href=\"https:\/\/u1f987.com\/en\/news\/binance-launches-terra-classic-burn-mechanism\">Terra Classic burn mechanism<\/a> (LUNC) to support the ecosystem <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">of the project that collapsed in May<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance, the cryptocurrency exchange, conducted its 21st quarterly burn of Binance Coin (BNB). 2.06 million tokens were removed from circulation, worth more than $547 million.<\/p>\n","protected":false},"author":1,"featured_media":68528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1307,1258],"class_list":["post-68527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-bnb-chain","tag-tokenomics"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68527"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68527\/revisions"}],"predecessor-version":[{"id":68529,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68527\/revisions\/68529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68528"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}