bnb burn schedule | BTCC Knowledge

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What is the BNB burn?

The BNB burn is a quarterly event whereby Binance buys back BNB and then burns, or destroys, this BNB. This will continue until Binance has burned 100,000,000 BNB. Binance Coin is not the only cryptocurrency subject to coin burning.

How often do BNB burning events take place?

The BNB burning events are scheduled to take place every quarter until 100,000,000 BNB are finally destroyed, which represents 50% of the total BNB ever issued (200,000,000 BNB). However, all of these BNB burning calculations are based on the number of trades and profit on the Binance exchange within every quarter.

How much did the 22nd BNB burn cost?

The 22nd BNB burn took place on January 17 2023 destroying 2,064,494.32 BNB, over $575 million worth of BNB. This is similar to the 20th BNB burn which destroyed 2,065,152.42 BNB. Binance confirmed the latest burn on Twitter, sharing the full transaction details. It cost 0.002 BNB for the burn to take place.

What is BNB (BNB)?

BNB is the utility token that powers the BNB ecosystem. The initial total supply was 200,000,000 BNB, but it is gradually decreasing through coin burns. The burning events will happen until 50% of the total supply is destroyed, reducing it to under 100,000,000 BNB. There are two methods to burn BNB.