In a recent tweet, Changpeng Zhao, the co-founder and CEO of the cryptocurrency exchange Binance, informed the Binance community members to expect another BNB token burn in a few days. This upcoming burn will mark the fourth one this year, following a previous burn that took place in July.
It’s worth noting that Zhao praised BNB as a token that had a fair launch. He emphasized that no one received free BNB tokens from the initial supply, and even the tokens allocated to the team remained untouched and were subsequently burned.
Additionally, Zhao referred to a 2021 tweet where he provided a list of the four addresses holding the BNB team tokens. In that tweet, he also mentioned that the Binance team had never sold a single BNB token from those wallets. He clarified that the tokens are accessible to the public through these addresses and have only been burned thus far.
These quarterly BNB burns are part of a commitment made in 2017, shortly after the token’s launch, to reduce half of its total supply from circulation. In July, more than 1.99 million BNB tokens, valued at $484 million, were burned, marking the 24th such event.
To date, over 46 million BNB tokens have been taken out of public circulation, leaving approximately 53 million yet to be burned. Currently, the 153 million BNB tokens have a total value of $32 billion, making BNB the fourth-largest cryptocurrency network by market capitalization.
According to data from CoinMarketCap, BNB has experienced a slight increase of 0.27% in the past 24 hours, rebounding after recent declines in its value. Furthermore, its trading volume has surged by 70.45% over the last 24 hours. At the time of writing, the token is trading at $209.22 each.