Binance Release Details of 11th Native Token Burn

Binance Release Details of 11th Native Token Burn

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset.

Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of such tokens nearly always states that they are to be burnt every time a quarter ends. Of all the burns, the burning of BNB is one of the most important owing to the significance of the token on the market and the fact it is listed so high on Coinmarketcap.

During this latest burn, 3,373,988 BNB were burned which has the value of 52.5 million USD worth of tokens were burned and the number was the highest ever recorded by the platform in terms of fiat and BNB volume. Therefore, it was a landmark burn for Binance who is one of the largest and fastest expanding platforms in the business.

The full details of the burn can be found in their latest blog post which was penned by their own founder and CEO, Changpeng Zhao. During this, he also discusses many other factors of the Binance ecosystem, including reaction to the Covid-19 crisis and plans for further expansion.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

Binance,Exchange Platforms

Haru Invest – the Ideal Platform to Get in Touch with Crypto

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

22 March, 2022
Binance,Exchange Platforms

XBE Community Launches a $500k Bug Bounty

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

28 December, 2021
Binance,Exchange Platforms

11 Biggest Sponsorships Deals for the Crypto Market in 2022

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

1 December, 2021
Binance,Exchange Platforms

ChangeNOW Unveils a New Cashback Feature

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

15 November, 2021
Binance,Exchange Platforms

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

9 November, 2021
Binance,Exchange Platforms

ChangeNOW Has Announced the Release of its Own Digital Wallet

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

29 October, 2021
Binance,Exchange Platforms

BitPanda Enhances Its BEST Rewards Programme

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

25 October, 2021
Binance,Exchange Platforms

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Binance have released figures that state that well over 3,000,000 of their native token, BNB were removed in their 11th burn of the asset. Many exchange platforms have been completing burns of their native tokens of late as we have reached the end of the first quarter of 2020. This is because the whitepaper of […]

6 October, 2021