BEP95 Initiative Results In 210K BNB Permanently Burned
The BNB Foundation has announced the successful completion of the 26th quarterly Binance Coin token burn through the BNB Chain. The burn, which included Auto-Burn and the Pioneer Burn Program, removed a significant amount of the exchange’s native token from circulation.
During this latest burn event, the Auto-Burn process eliminated 2,141,487.27 BNB from circulation, equivalent to approximately $636 million in USD. The Auto-Burn mechanism operates independently of Binance’s centralized exchange (CEX), ensuring an auditable and objective process.
The Pioneer Burn Program also contributed by removing 1542.15 tokens from circulation. This program permanently eliminates an amount of BNB equal to the provable lost funds of eligible users.
Since the introduction of BEP95, a total of 210,000 tokens have been permanently burned under this mechanism. The Pioneer Burn Program helps maintain ecosystem integrity and ensures that lost funds do not impact the circulating supply.
Robust User Adoption
In addition to its quarterly token burn, BNB has demonstrated notable strength and progress in terms of user adoption and financial metrics.
With a circulating market cap of $47.86 billion, BNB Chain has experienced a 30.45% increase in market capitalization, reflecting growing confidence and demand among investors.
BNB Chain’s financial metrics are equally impressive, with a revenue growth of 30.47% over the past 30 days and $1.72 million generated in revenue during this period. Extrapolated on an annual basis, the chain’s revenue is noteworthy at $20.96 million.
The platform has also seen a surge in active daily users, with a 30-day average of 1.42 million, representing a robust 48.6% growth. BNB Coin’s price performance has been steady, with positive trends over extended periods.
Hot Take: BNB Continues to Burn and Gain Momentum
The successful completion of the 26th quarterly token burn by Binance marks another significant milestone for the BNB ecosystem. The combination of the Auto-Burn mechanism, Pioneer Burn Program, and Real-Time-Burn mechanism demonstrates BNB Chain’s commitment to reducing token supply and fostering long-term value.
Furthermore, BNB’s robust user adoption and financial stability reflect its growing popularity among investors. With increasing market capitalization, revenue growth, and active daily users, BNB continues to gain momentum in the crypto space.
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