- BNB Foundation executed the 32nd quarterly burn, impacting supply.
- Burn transaction ID: 0x6e8b15a99…
- BNB price maintains strength post-burn.
Summarizing a key BNB Chain event, the blockchain recently conducted its 32nd quarterly token burn, removing approximately 1.59 million BNB, valued at $1.02 billion, from circulation.
The BNB Foundation executed a major burn, removing 1.59 million BNB valued at $1.02 billion. The burn reduced total supply, underscoring BNB’s goal to reach a 100 million cap. BNB Burn: 32nd event details and impact on BNB supply
Market Impact of BNB Burn
BNB’s leadership has changed since Changpeng Zhao’s (CZ) departure. The foundation now manages communications and initiatives. No high-profile executives have publicly commented beyond official announcements.
Significant market impacts include reducing the BNB supply by 1.13%, sustaining prices above $666. On-chain insights confirm negligible transaction fees, with open interest in derivatives markets surpassing $780 million as a result.
The burn primarily impacts BNB holders within the ecosystem, affecting related protocols indirectly. Broader market assets like ETH and BTC remain unaffected, focusing interest on BNB’s longer-term potential.
“Burns occur quarterly, following the BNB Auto-Burn algorithm. Supply reduction has historically supported longer-term price appreciation, although immediate market reactions can be muted.”
Historically, each quarterly burn supports price appreciation, though immediate market reactions are subtle. The latest event underscores BNB’s role across BNB Smart Chain and opBNB Layer 2 through its utility as a core asset.
Price Appreciation and Scarcity
According to historical trends, quarterly burns have generally resulted in long-term price appreciation for BNB. Experts suggest reduced supply could enhance scarcity-driven value, without immediate dramatic price shifts.
