Giant cryptocurrency exchange Binance announced that the 22nd BNB burn was made on BNB Chain and the first quarterly burning process of 2023 was completed. In Binance’s statement, it was stated that the number of BNB burned includes the Automatic Burning Program as well as the BNBs burned within the scope of the Pioneer Burning Program.
Cryptocurrency exchange Binance has announced that the 22nd BNB burning has been completed and 2,064,494.32 BNB, worth $575.45 million in US dollars, has been burned and removed from circulation as part of the Automatic Burn Program. In addition, it was announced that 7,181.03 BNB was burned within the scope of the Pioneer Burning Program. The amount of BNB that Binance says it burns corresponds to 1.3% of the supply. In the previous BNB burning, it was announced that 28% of the supply, 2,065,152 BNB was burned.
After the burn news, the BNB price started to rise. Binance’s ecosystem altcoin is trading at just over $300, $301.69, up 1% in the last 24 hours, according to data provided by crypto data platform CoinMarketCap. The all-time high (ATH) on BNB was recorded at $690 on May 10, 2021. This means that at current prices, the altcoin is priced 56.33% below its ATH.