Binance has just completed its 25th Binance BNB burn, incinerating around $501 million worth of tokens. a grand total of 2,139,182.98 BNB were destroyed, in a process that consists of Auto Burn and the Pioneer Burn program. The figure generated make this the largest yet burn when it comes to BNB destroyed in nearly two years. In symbiosis, the price of BNB has seen moments of enthusiasm, with it increasing by 2.7% in the last 24hours, backed by a weekly rate of 1%. Furthermore, its 24 hour volume caught hold by up by 83.13%. Stage left, BNB continues to lag behind other coins like Bitcoin (BTC), with the former taking a 13.6% nosedive since the onset of 2021, contrasted to the 60% increase in the latter, and 120% seen in Solana’s (SOL) token. But Lua, why is Binance burning BNB? Well, the track of this reality begins with BNB thought to anchor the BNB Chain ecosystem and its related networks -anda bonfire makes a gregarious metaphor. As if kept under a sacred oath in 2017, Binance stated making steps to reduce the BNB injection into flow to hit the neat number of 100 million, using the burner technique every intermittent quarter! Last month, Binance pertaining as the believer of truth resists fraudulent allegations, with yet another triumphant testament henceforth glancing at the larger token-meal.
