2022’s first Quarterly Auto-Burn by Binance removed 1.6M BNB from circulation.

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Binance conducted its 18th BNB Auto Burn which removed over 1.6M BNB which costs around 800 million dollars.

According to the official blog post from Binance a total of 1,684,387.11 BNB was removed from circulation which includes 6296.305493 BNB that burned from the Pioneer Burn program as well, the transaction ID (TXID) for BNB Burn can be seen here.

World’s largest crypto exchange immediately after its launch in 2017 has committed to removing 100 million BNB or half of the total supply from its circulation through burning of tokens. Burning of BNB tokens is calculated on a basis of an auto burn formula which calculates how many tokens to remove from circulation according to BNB’s current price, which reflects supply and demand and the number of blocks produced that quarter.

The previous BNB burn conducted in October torched about 1.3 million BNB worth 640 million dollars at the time.

All the data and the numbers of each BNB burn can be publicly tracked on the link here.

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