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Crypto exchange Binance burns $740 million worth of BNB tokens, for the 19th time, know why

Removal of crypto tokens from circulation is not a new thing. Crypto exchanges do this on many occasions. Now the world’s largest cryptocurrency exchange Binance has delisted more than 1.8 million BNB tokens from circulation. Binance’s chief executive officer Changpeng Zhao says that this process reflects the deflationary nature of the asset. BNB Chain (BNB) is the native token of the world’s largest crypto exchange. Its tokens have been burned for the 19th time and have been removed from circulation.

cryptopotato’s according to, the company sent 18 lakh 30 thousand 382 BNB tokens to a wallet where only tokens can be received. However, not everyone can send tokens in it. Their worth is estimated at more than $ 741 million. It is believed that by removing the token from circulation, the community will get transparency. BNB coins were burned so that its total supply was gradually reduced to less than 100 million tokens. This concept was also reiterated by the head of Binance – Changpeng Zhao in a recent tweet.

In a later post, Zhao justified Binance’s move. Said the team is dedicated to doing this every quarter. It is worth noting that this process has an impact on the dollar valuation of BNB. At present it is doing fast business. It has seen a rise of 4.5 per cent on Tuesday. Earlier in January, the company delisted $800 million worth of BNB tokens from circulation.

Talking about the prices of crypto tokens, on Tuesday, there was an increase in the prices of coins. The price of bitcoin saw an increase of 3.38 percent. Its price on the Indian exchange Coinswitch Kuber is $ 42,742 i.e. approximately Rs 32.60 lakh. The price of bitcoin on the global exchange is $40,800 and is up 4.52 percent in the last 24 hours. According to data from CoinGecko, the price of bitcoin is up 3 percent week-on-day. Stoeferle, managing partner of Incrementum AG, has said that if bitcoin lasts for the next 5 to 10 years, it could reach a level that we cannot even imagine right now.

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