Binance Completes 25th Quarterly BNB Burn, Removing $453 Million in Value

Binance BNB
Last updated:
Author
Author
Jai Pratap
About Author

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: AdobeStock / akif

One of the world’s largest cryptocurrency exchanges, Binance, has successfully completed its 25th quarterly BNB token burn, reducing the supply of its native cryptocurrency, Binance Coin (BNB). 

In this latest burn, a total of 2,139,182 BNB tokens were removed from circulation, translating to a value of approximately $4.53 million.

In July, Binance announced the 24th quarterly BNB burn, during which approximately 1.99 million BNB tokens, worth around $484 million were removed from circulation. 

Binance intends to eliminate more than 100 million BNB, which accounts for half of the total supply, through a series of token burns, with the ultimate goal of retaining only 100 million BNB in circulation.

BNB Remains in Green

This practice, which began in October 2017, involves the elimination of a set number of BNB tokens each quarter to enhance scarcity and, in turn, create potential value appreciation.

Despite the substantial quantity of tokens being burned, the market response this time was relatively subdued, with BNB trading at around $213, representing a 2.74% increase over the past 24 hours.

The BNB burning process is meticulously orchestrated through the Auto-Burn formula, which factors in the coin’s price and the number of blocks generated on the Binance Smart Chain. 

This provides an independently auditable and objective process, ensuring transparency in the token burning mechanism. 

The figures are reported quarterly, offering investors and the crypto community clear insights into the supply reduction.

The burning mechanism operates independently of Binance’s centralized exchange. 

Moreover, BNB Chain, which operates separately, continues to burn a portion of BNB Chain’s gas fees in real-time using a bespoke mechanism. 

This ongoing reduction in supply, coupled with its application in transaction fees, underscores Binance’s multifaceted approach to managing and enhancing the value of BNB.

More Articles

Blockchain News
N.Korean Hackers Boost Crypto-Looting Methods: Hiding Malware in GitHub, NPM Packages
Sead Fadilpašić
Sead Fadilpašić
2025-02-13 16:03:27
Press Releases
Crypto AI Agent Market Cap Rises By $139m, MIND of Pepe Token Smashes $6M in Must-Buy ICO
2025-02-13 15:36:14
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors