Binance completes its 18th token burn, destroying nearly $800 million, setting a new record high! Surpasses Q3 record.

After implementing the new "BNB Auto-Burn" mechanism, Binance has completed its first coin burn, with the largest amount burned since last year, reducing the supply by approximately 16%. The circulating supply of BNB is 166 million, with the goal of burning a total of 50% of the supply, around 100 million BNB.

18th Coin Burn

According to the announcement, the data for the 18th coin burn is as follows:

• Total coins burned: 1,684,387.11 BNB
• Burn TXID: View transaction
• Anti-black hole plan: 6296.305493 BNB

According to the transaction record, the coin burn took place on 1/18 at 00:14:49, with BNB price around $470. Therefore, the total amount burned is approximately a record high of $794 million, surpassing the $630 million from the previous 17th quarterly coin burn.

After the implementation of the new system on Binance, the BSC community has also established a real-time coin burn monitoring website at bnbburn.info. The estimated coin burn for the next quarter is 1,747,439.39 BNB. A comparison shows that the coin burn amount is generally inversely proportional to the average coin price; the lower the price, the higher the coin burn amount.

Currently, over 33.1 million BNB have been burned, bringing the deflation progress to approximately 16%. The total circulating supply is 166 million BNB, with the goal of burning 50% of the total supply, approximately 100 million BNB.