Binance burned its coins, worth $484 million.

Cryptocurrency exchange Binance has performed 274 quarterly destruction of BNB. She burned almost 2 million tokens. Their cost exceeds $484 million.

What is known about the destruction procedure

In 2017, the crypto exchange began conducting a program to withdraw tokens from circulation. Thus, she wants to withdraw about 100 million BNB tokens from the market. This is 50% of the total issue. In 2021, it introduced the automation of coin burning. The calculation is based on Auto-Burn technology.

Of the total amount of tokens burned in the second quarter, more than 747 coins were in the Pioneer Burn program. According to it, coins that have been lost by the true owners are withdrawn from access.

The last stage was held in April of this year. Then more than 2 million tokens were destroyed. Their cost was $676 million.

Note that investors of the PopcornSwap scam project are asking the crypto exchange to use this mechanism to remove stolen coins from their access. At the same time, in their opinion, the site should release the same amount again, returning their stolen $ 15 million.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.