#Binance , the largest #cryptocurrency exchange in the world, has burned 2.14 million #BNB over the past three months, bringing its total BNB burn to 25.
The stock exchange's native cryptocurrency, BNB, completed its twenty-fifth fuel transaction on October 16th, according to a post on the Binance website. Because to the BNB's automatic combustion process, 2,139,182 BNBs worth $453,000,000 were removed from circulation.
This was Binance's eighth fuel operation using the automated combustion system, and it was successfully accomplished. The quantity of BNBs to be burnt is calculated by the automated combustion mechanism based on the BNB pricing and the number of blocks created over the course of three months.
To that end, Binance plans to burn 100 million BNBs, or almost half of the total supply of 200m BNBs.
Data from $BNB Burn indicates that on October 16th, Binance conducted a BNB Coin fuel operation in which between 25 and 50.29 million BNBs were burned.
