Token

Burn

Foundation

<h4><strong>This latest burn saw a total of 1,643,698.8 <a href="https://www.coingecko.com/en/coins/bnb" target="_blank" rel="noopener">BNB tokens</a>. </strong></h4> 
<p>They are valued at approximately $971 million, and permanently removed from circulation. Let’s explore more about this important event for BNB tokens.</p> 
<h5><strong>Token Burns: A Deflationary Mechanism</strong></h5> 
<p><a href="https://www.altcoinbuzz.io/?s=token+burn" target="_blank" rel="noopener">Token burns</a> are a deflationary mechanism used by blockchain projects to reduce the total supply of tokens in circulation. By decreasing supply, these burns can potentially increase the value of the remaining tokens, benefiting holders. These quarterly burns are essential to BNB’s tokenomics, enhancing its scarcity and value over time.</p> 
<h5><strong>Adjustment Based on Price and Blocks</strong></h5> 
<p>The amount of BNB burned each quarter is not arbitrary. It is meticulously calculated based on two primary factors: the price of BNB and the number of blocks generated on the <a href="https://www.altcoinbuzz.io/?s=Binance+Smart+Chain" target="_blank" rel="noopener">Binance Smart Chain (BSC)</a> during the quarter. This adjustment mechanism ensures that the token burn aligns with the network’s activity and the token’s market performance.</p> 
<p><img decoding="async" class="wp-image-146198 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcvxcvvcxxvc-300x272.jpg" alt="" width="447" height="405" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcvxcvvcxxvc-300x272.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcvxcvvcxxvc.jpg 389w" sizes="(max-width: 447px) 100vw, 447px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/BNBCHAIN/status/1815268226609148217" target="_blank" rel="noopener">X</a></strong></h6> 
<p>According to its <a href="https://www.bnbchain.org/en/blog/28th-bnb-burn" target="_blank" rel="noopener">latest blog post</a>, the completion of the 28th token burn marks another milestone for the BNB Chain. Removing 1,643,698.8 BNB tokens from circulation underscores the Foundation’s commitment to its deflationary strategy. This substantial burn is equivalent to roughly $971 million. This reflects both the growth of the BNB ecosystem and the Foundation’s proactive approach to managing token supply.</p> 
<h5><strong>Impact on the BNB Ecosystem</strong></h5> 
<p>The quarterly token burns have consistently demonstrated their impact on the BNB ecosystem. By reducing the total supply, each burning event contributes to the potential appreciation of the token. This mechanism not only incentivizes holding but also boosts confidence among investors regarding the long-term value of BNB.</p> 
<p>Moreover, these burns highlight the active and engaged nature of the BNB Foundation in ensuring the health and sustainability of Binance’s Chain. Regular burns indicate a transparent and well-managed approach to tokenomics, which is crucial for maintaining trust within the community.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
<div class="youtube-embed" data-video_id="Ivl55llVYn8">
 <iframe title="WHY Are ***** Hating Crypto NOW?" width="696" height="392" src="https://www.youtube.com/embed/Ivl55llVYn8?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/bnb-foundation-completes-971m-token-burn/">BNB Foundation Completes $971M Token Burn</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

BNB Foundation Completes $971M Token Burn

Altcoin Buzz

Other articles published on Jul 22, 2024

Here's Why 'Explosive' XRP Price Move Might Be on Horizon

Revolutionizing Legal Tech: Discover the Power of Law Blocks AI

Whale Trades $ENS for $MKR, Nets $109K Profit

Joe Biden bets on Polymarket take a drastic turn amid public appearance demands -$80M cashed out ...

MEW: Solana’s Cat-Themed Memecoin Leads Market Gains

Bybit’s Livestream To Reveal Crypto Hotspots & Market Failures

Join our free newsletter for daily crypto updates!