BNB Foundation Completes 28th Quarterly Token Burn, Reducing Supply by 1.6M BNB Worth $971M

Jul 22, 2024, 06:05 AM

The BNB Foundation has officially announced the completion of the 28th quarterly BNB token burn by BNB Chain. A total of 1,643,698.8 BNB tokens, valued at approximately $971 million, have been burned, representing 25% of the supply. The burn amount is adjusted based on BNB's price and the number of blocks generated on BSC during a quarter. This significant reduction in supply is expected to create a price squeeze, as a large percentage of the remaining supply is tightly held.