Cryptocurrency BNB Completes Burning of 89 Billion Yen worth of Tokens

23rd burn

Crypto Asset (virtual currency) Build and Build (BNB) reported on the 14th that it completed its 23rd token burn. In this burn, 2,020,132.25 BNB worth a total of 89.1 billion yen was incinerated.

#Binance completes the 23rd Quarterly #BNB Burn!

2.02m #BNB has been burned pic.twitter.com/sQVli4dR1m

—Binance (@binance) April 14, 2023

The BNB token burn is a quarterly event. Burning is done by an automatic price-based burn mechanism introduced on the BNB chain.

Source: Binance

So far, 22% of BNB supply has been burned. The last 22nd burn took place in January and burned about 2.06 million BNB.

connection:Cryptocurrency BNB Completes Burning of 80 Billion Yen worth of Tokens

BNB Chain, provided by major crypto asset (virtual currency) exchange Binance, implemented an upgrade called “Planck” on April 12th. This upgrade is mainly aimed at enhancing the security of the cross-chain bridge. A timer lock function has been introduced for large fund transfers, and an automatic stop function for cross-chain channels has been added in the event of emergency situations such as counterfeit detection or hacking.

connection:BNB Chain to Launch ‘Planck’ Upgrade on April 12th

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