BNB Real-Time Burn and Auto-Burn Schedule (2024)

FAQs

How much BNB has been burned? ›

The BNB Foundation has officially announced the successful completion of the 27th quarterly BNB token burn by BNB Chain. Here are the facts and figures from the latest burn: Auto-Burn (Total BNB burned): 1,944,452.51 BNB. Approximate value in USD around the time of burn: ~$1.17B.

BNB employs an Auto-Burn system to gradually reduce its total supply to 100,000,000 BNB. The burn amount is adjusted based on BNB's price and the number of blocks generated on BSC during a quarter, ensuring transparency and predictability.

As of July 2022, Binance had completed 20 BNB coin burn events. In total, 38,683,447.66 BNB tokens have been destroyed, reducing its initial 200M supply by 19.34%.

Auto-Burn Mechanism: The BNB Auto-Burn mechanism ensures a transparent and predictable reduction of the total BNB supply, aiming to eventually bring it down to 100,000,000 BNB. The burn amount is adjusted based on the price of BNB and the number of blocks generated on the BNB Smart Chain (BSC) during the quarter.

Will BNB reach $10,000? According to Changelly, BNB will reach $10,000 in early 2032.

In response to a cyber attack on October 4, 2022, which resulted in the theft of about two million BNB (Binance Coin) tokens, exchangeable for over $570 million, at the moment of article writing.

BNB uses an Auto-Burn system to reduce its total supply to 100,000,000 BNB. The BNB Auto-Burn mechanism adjusts the amount of BNB to be burned based on BNB's price and the number of blocks generated on BNB Smart Chain (BSC) during the quarter.

Also known as burning tokens, this is irreversible and typically achieved by sending the coins to a public wallet address where they cannot be retrieved or spent. Once coins are sent to this 'burn address', they are effectively rendered unusable, thus reducing the total supply of the cryptocurrency.

Cash Out BNB in a Few Clicks. MoonPay offers a simple, fast, and safe checkout to turn your BNB into cash. Easily sell Binance Coin for fiat into your bank account or card*. * Sell-to-Card available in over 80 countries.

Which crypto will boom in 2024? ›

BNB Chain Burns Over $575M in BNB Tokens, Binance Confirms

Since the introduction of BEP95, over 145,000 BNB has been burnt under this mechanism.

For example, a drop in the number of Binance users or the exchange's regulatory concerns could have an impact on the price of BNB. In November 2023, BNB fell over 9% following news that the US Justice Department had filed criminal charges against Binance and its CEO, Changpeng "CZ" Zhao.

What Should I Do to Keep My Funds Safe? The answer here is having a main wallet in a hardware wallet, e.g., Binance, which is never linked to any project. In this main wallet, there should be multiple wallets that should be linked to one project each. Any unused funds should always be stored in the main wallet.

every quarter, Binance uses 20% of its profits to buy back and burn Binance Coins, destroying them completely. The practice ensures that the supply of Binance Coin remains finite, making it scarce and more valuable.

The BNB coin was launched on 16 September 2017, at a price of 0.09 euro.

All of the 100 million BNB tokens available for public sale were sold during the ICO at 15 cents per token.