Binance News: BNB Chain Burns $1.2 Billion Worth Of BNB Tokens

The BNB Foundation burned 1.44 million BNB tokens on the BNB Smart Chain. This major token burn made headlines in Binance news. It marks the 33rd quarterly burn of BNB tokens by the foundation.

With the burn, the total supply of BNB tokens has now fallen to 137.738 million tokens. This brings it a step closer to its ultimate goal of reducing supply to 100 million tokens.

Binance News of BNB Chains Burning over 60 Million Tokens So Far

According to the announcement from BNB Chain, the burned tokens were sent to the blackhole address, 0x000000000000000000000000000000000000dEaD. The network is just releasing reports on the amount of BNB burned.

However, it actually employs an auto-burn model, which means tokens are burned in every block. The average price of burned BNB in Q3 was $838.07. The total value of the burned tokens reached $1.2 billion. This major burn event drew attention across Binance news.

BNB Chain determines the burn amount using the BNB price and quarterly block production. Last quarter, it produced 2.64 million blocks.

Unsurprisingly, the $1.2 billion worth of BNB burned in this quarter is the most valuable. This burn wasn’t the largest in BNB history.

The 14th burn saw 3.619 million BNB tokens removed from circulation. The network has also burned over 3 million tokens on two other occasions.

CZ Claims BNB is Deflationary as Token Sees Slight Increase

Binance news suggested that the BNB has seen a slight increase in its price following the announcement of the burn. According to CoinMarketCap, the token’s price increased by almost 2% today, bringing it close to $1,150. It is now up 4.55 this week.

However, the burn might not have been the reason behind the gains. The broader market also saw a comparable jump in value. BNB is still down from its peak of above $1,350, which was reached back in mid-October.

BNB token has been one of the best performers this year, with a price increase of over 62%. The surge in activity on the BSC network played a major role in this momentum. Other positive developments linked to the Binance exchange also contributed.

Binance founder Changpeng Zhao recently emphasized the deflationary nature of BNB supply. His remarks gained attention in the latest Binance news. In response to the one user comment that around 11.12 billion BNB is getting burned every second, Zhao said:

Others have pointed out the token’s deflationary nature. Its supply has dropped by over 60 million tokens since launch. Interestingly, about 1.24 million tokens worth $1.41 billion are scheduled to be burned in Q4 of 2025