Total amount of BNB burned has already surpassed $3 million
According to BurnBNB data, the total amount of BNB burned is now over $ 3 million. Binance Coin (BNB) is down slightly today compared to the rest of the altcoin market. In the past 24 hours, the majority of altcoin tokens have suffered notable losses of between 10% and 30%.
On Nov. 30, Binance Smart Chain went through one of the most extensive upgrades since its inception. Dubbed Bruno Upgrade v1.1.5 (also known as the BEP-95 upgrade), the hard fork introduced a real-time burn mechanism for BNB token.
The latest update from BurnBNB, the BNB token burn tracking bot, shows that 6,100 BNB – valued at $ 3,655,350 – have been burned since the BEP real-time burn upgrade. 95, which assigns a fixed ratio of Binance Coin collected by each validator to burn. .
Binance Coin began with an initial supply of 200 million tokens, but due to regular coin burn events, the supply is gradually decreasing. This figure currently stands at $166.8 million, according to data from CoinMarketCap.
BNB is currently trading down 3% for the day at $ 541. BNB’s market capitalization is currently $ 90.4 billion, remaining the third largest cryptocurrency behind Ethereum (ETH).
