Changpeng Zhao also asserts that several reasons could influence this factor. However, they are yet to determine by how much. The plan to speed up burns would allow the company to reach 100 million burns in about 5-8years. And at this rate, burning 100 million would take another 27 years. This is a total of $426,304,000 in about three and a half years. But this strategy proved to be too slow, as the company has burnt only 13% of the overall amount. Back then, trading volumes were used to determine the speed of BNB burns. Moreover, Changpeng Zhao has resolved to increase the burning speed, considering that BNB has increased in value, and the burning rate so far is not commendable. The aim for burning BNB tokens was also revealed in the project’s White paper: “to halve the total supply of BNB (from the initial 200 million to 100 million)”. The Binance fund’s reserves- 40% of the total supply-and tokens received as a commission by the exchange are often allocated for burning. The Binance exchange burns coins every quarter, reducing the asset’s total supply and increasing the demand ratio. Read more: Binance’s CEO says the 15th BNB Coin Burn Should Happen in a Month A major event in the Binance ecosystemīinance Coin (BNB) ‘s burn by the Binance exchange is a widely discussed topic in the crypto industry. Since the price of BNB has increased massively since the last burn, the number of BNB coins to be burnt this time may be higher to increase scarcity and the coin’s price.

Many believe that it will be the biggest burn of all time due to the increased trading volume. In a statement made on Twitter two days ago, Changpeng Zhao stated the need to take some tokens out of circulation to increase the value of BNB.Īlthough the 14th BNB burn was recorded as the highest so far, many crypto enthusiasts have expressed their optimism for the 15th BNB burn on Binance’s Reddit page. As a quarterly routine for Binance, the 15th BNB burn will hold sometime this month, on or before April 30, 2021.

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