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BNB Foundation destroys over 1.6 million tokens in quarterly burn

The BNB Foundation completed its 37th quarterly token burn, destroying nearly 1.65 million BNB valued at almost 1.2 billion dollars.

FTMQ Crypto, written by our newsroom0 views

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The BNB Foundation completed its 37th quarterly token burn on October 19, destroying 1,646,196.44 BNB. CryptoSlate, Crypto News, and ad-hoc-news.de all reported that the burned tokens held an estimated value of approximately 1.197 billion dollars. Ad-hoc-news.de noted that roughly 1.65 million tokens were permanently removed from circulation during the event. [1][3][4]

According to CryptoSlate, the October destruction retired 1.9 percent more tokens than the previous quarterly burn executed on July 15. The July event destroyed 1,615,827.795 BNB, which was valued at roughly 931.7 million dollars at the time. The token volume increased by about 30,369 BNB between the two quarters, while the total disclosed dollar valuation rose by 28.5 percent due to higher implied coin valuations. [1]

BNB Smart Chain, formerly known as Binance Smart Chain, is a public blockchain network utilizing a proof-of-stake consensus mechanism with smart contract capabilities. The system relies on BNB as its native cryptocurrency and belongs to the broader Binance ecosystem established in 2017 by Changpeng Zhao and Yi He. [6]

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In short

  • The BNB Foundation burned 1,646,196.44 BNB on October 19.
  • The 37th quarterly burn was valued at approximately 1.197 billion dollars.
  • The token volume burned in October was 1.9 percent higher than the July burn total of 1,615,827.795 BNB.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]BNB Chain burns $1.2B in October tokens, leaving real supply impact hiddenCryptoSlate, 14d ago (the report this story comes from)
  2. [2]BNB Chain opens forum for community input on its new Layer 1Crypto Briefing, 15d ago
  3. [3]BNB Chain burns $1.2 billion, but can BNB price reclaim $750?Crypto News, 15d ago
  4. [4]BNB burns 1.65 million tokens on October 19: What it means for the BNB pricead-hoc-news.de, 14d ago
  5. [5]BNB Price Prediction 2026: Grayscale Says BNB Chain Is Underrated as Pepeto Eyes 100x GainsTechBullion, 14d ago

Background

  1. [6]BNB Smart Chain (blockchain platform) on Wikipedia
  2. [7]Non-fungible token on Wikipedia
  3. [8]October on Grokipedia
  4. [9]Ethereum supply increases as network fee burn mechanism slows significantly FTMQ Crypto, 17d ago

Our newsroom writes these reports with the help of software, from the 9 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

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