Binance announced its 24th BNB burn as the asset remained consolidated in the red zone.
Over 1.99 million BNB tokens were burned, valued at over $484 million during the transaction, resulting in a 1.27% reduction in BNB’s total supply, which now stands at 153.85 million coins.
#Binance completes the 24th Quarterly #BNB Burn!
🔥 1.99m #BNB has been burned 🔥 pic.twitter.com/7BLGMTxeba
— Binance (@binance) July 19, 2023
Since October 18, 2017, Binance has burned approximately 46.81 million BNB, representing 25.45% of the total supply in circulation. The burn has sparked bullish momentum, receiving positive responses from Twitter users.
After three days of declines, BNB has turned green, showing a 0.4% increase in the past 24 hours and trading at $243. The surge is accompanied by a significant rise in binance coin’s 24-hour trading volume, soaring by 22.44% to nearly $790 million.
BNB price – July 19 | Source: Trading View
BNB’s market capitalization currently stands at $37.4 billion, reflecting a 1% decrease, while the total circulating supply consists of 153.85 million tokens.
On July 12, BNB Chain revealed the “ZhangHeng” upgrade, set for today, July 19, at block height 328,088,888. The upgrade will implement BEP-255, introducing “on-chain asset reconciliation” to enhance the chain’s security.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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