Binance conducts $795 million BNB burn

The cryptocurrency exchange Binance carried out the eighteenth quarterly burn of Binance Coin (BNB) using the Auto-Burn mechanism.

#Binance completes 18th quarterly #BNB burn.

🔥🔥 $795M USD has been burned! 🔥🔥https://t.co/BsLqhtsovc

— Binance (@binance) January 17, 2022

In circulation, 1,684,387.11 BNB (~$795 million at the time of writing). Of these, 6,296.305493 BNB were burned under the Pioneer Burn program.

In January 2021 Binance burned 3,619,888 BNB, which in fiat terms amounted to $165.8 million. Previous record was set in October 2020 — the exchange burned 2,253,888 BNB.

In December on the Binance Smart Chain at block 13,082,000 the Bruno hard fork activated a mechanism to burn a fixed portion of gas in every block.

In late 2021, Binance abandoned the concept of quarterly destruction of BNB in favour of the Auto-Burn mechanism.

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