The BNB Foundation completed the 30th quarterly BNB burn today, reducing the total supply by over 1.6M BNB tokens valued at $1.16B. The foundation still needs to burn another 42.47M BNB to reduce the token’s total supply to its 100M BNB target.
The BNB Foundation used the Auto-Burn mechanism introduced in BEP-95 to clear over 1.5M BNB in the actual burn, while the Pioneer Burn accounted for the remaining 110K BNB.
According to the foundation, the BNB Beacon Chain validators left their “now unrecoverable” self-staked 110K BNB on the Beacon Chains and the tokens were considered burned. The validators were compensated through the Pioneer Burn Program. About 142.47M BNB tokens are in supply, as revealed by the latest BNB Chain data.
BNB Foundation sets future BNB burning processes on auto
The 30th quarterly $BNB token burn has been completed directly on BNB Smart Chain (BSC).
1.63M #BNB has been burned. 🔥
View burn details 👇https://t.co/tmabJ0JAoH pic.twitter.com/dlUw8nRint
— BNB Chain (@BNBCHAIN) January 23, 2025
The BNB Foundation unveiled plans to employ the Auto-Burn system to gradually reduce the total supply of BNB tokens to 100M BNB. The Auto-Burn mechanism will adjust future burn amounts based on BNB’s price and the number of blocks generated on the BSC (BNB Smart Chain) during each quarter to ensure predictability and transparency.
BNB’s Auto-Burn is supposed to provide an auditable and objective process independent of the Binance centralized exchange.
Accordingly, this quarter’s and future burns will occur directly on BSC due to the BNB Chain Fusion. As per the BNB Foundation team, all corresponding BNB amounts will be sent to the “black hole” address: 0x000000000000000000000000000000000000dEaD
Additionally, BNB Chain will continue implementing the real-time burning mechanism based on gas fees. BSC validators determined the ratio of gas fees collected in each block burned at a fixed rate. Nearly 248K BNB has been burnt under this mechanism since BEP-95 was introduced.
On the other hand, the BNB Pioneer Burn Program will continue helping users recover their BNB and pegged tokens lost due to honest mistakes through quarterly token burn events.
Binance CEO believes it is still early for crypto gains
Binance CEO Richard Teng released a statement claiming that crypto adoption is still in its early stages. He added that one of the “detrimental outcomes” is the perception that it is too late to get into crypto.
Teng said the belief that crypto’s peak is behind us ignores the “transformative forces still in motion.” He pointed out that while early crypto adopters have certainly benefited from their foresight, the opportunities ahead are just as significant.
The Binance boss gave an example with Bitcoin’s current price, He said what was once thought to be impossible is now old news as the $100K BTC price has become the new norm.
“This is the pattern we’ve seen throughout crypto’s short history: impossible yesterday, expected or even underwhelming today.”
-Richard Teng
Teng said that the “flexibility and amenability of what people consider possible, likely, or normal” never ceases to amaze him. He added that the crypto industry’s 2024 momentum is only accelerating in 2025.
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