BNB Foundation Completes Major Coin Burn, Removing $1.16 Billion from Circulation! – BitRss

BNB ($686.40) Coin is seeing significant movement as the BNB Foundation successfully announced the completion of the 30th quarterly coin burn executed by BNB Chain. A total of 1.63 million BNB tokens were burned, effectively removing them from circulation. At the time of the burn, the total value of this operation was estimated at approximately $1.16 billion.

Details of the Coin Burn Operation

The total amount burned during this period comprised two components. Under the Automatic Burn and Pioneer Burn Program, 1.52 million BNB were incinerated, while an additional 110,000 BNB were removed through the Pioneer Burn Program. Within the framework of the Pioneer Burn Program, BNB Beacon Chain validators permanently left 110,000 BNB from their own investments on the Beacon Chain, making this amount irretrievable. Validators were compensated for this loss through the Pioneer Burn Program.

Altcoin BNB

Following the burn executed this quarter, there are still 42.46 million BNB tokens that need to be removed from circulation. The total supply post-burn is recorded at 142.46…