Binance Burns Over $480 Million Worth of BNB in 24th Quarterly Burn

The world’s largest cryptocurrency exchange – Binance – completed its 24th quarterly burn of its native token, burning 1,991,854 BNB. 

The development, carried out every three months, should help the company reduce the overall supply of the coin to 100 million. 

• Binance informed that its most recent BNB burn equaled approximately $484 million. 
• The process also included 747.51 BNB that was burned via the Pioneer Burn Program – a feature that helps customers who have lost access to their BNB tokens.
• Binance’s CEO – Chanpeng Zhao (CZ) – weighed it on the matter, saying said everything was done “according to the public algorithm.” 

The quarterly #BNB burn is done, according to the public algorithm.

I was told there will be some more on-chain (large) transactions shortly, to further distribute/spread the coins to more addresses. Nothing to be alarmed about.