Binance Backd BNB Chain has recently burn 1.579 million BNB Tokens, with a total value of about $ 916 million. This step is part of the Quarterly Burn Program of BNB Substructure, which aims to control the supply of tokens and reduce inflation. However, despite such a big burn BNB Value I did not see any significant change.
What is token burning and why is it important?
Token burning is a strategic process in which the blockchane network reduces its token supply. In this, Tokans are sent to a particular “blackhole” address (0x00… 00dead) from where they can never be brought back. This process reduces the total circulating supply of tokens, which leads to stability and growth in the longitarm price.
How many token burn in 31st burning?
This thirty first Quarterly Burning done by BNB Substructure, in total 1,579,207 BNB TOken Burned, which is almost priced $ 916.07 million Was. After this burn, BNB’s total circulating supply is now 139.31 million Has come on The team aims to slowly 100 million To be brought to and for this, the process of token burning will continue in every quarter. If you want to know that What is binanceThen you can read the detail article by clicking on the link.
Why didn’t the effect of BNB affect?
It is often seen that the price of that token rises in the market after token burning. But this time there was no special movement in BNB Value. According to experts, the reason for this is that the effect of burning is often the lanterm, not immediately. Investors’ eyes are currently on how the effect of this burning will be seen in the next few months. However, BNB Coin was being traded around $ 578.83 till the news was written.
What will be the benefits in the long term?
History is witness that token burning has helped crypto projects to control inflation and improve ecosystem. BNB Chain also wants to make its network more efficient and stable by following this path. In addition, BNB Chain also burn tokens from transaction fees on regular basis, which is another strong step in this direction.
Conclusion
This burning program of BNB Chain is not only an indication that the project is taking its token economy seriously, but also shows that they are focusing on long -term sustainability. Even though there is no major change in the price for now, but over time this step will strengthen the value of BNB Token and network growth.
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