BNB Chain burns US$932M worth of BNB

• BNB Chain completed its 36th quarterly token burn.
• The burn removed about US$932 million worth of BNB from circulation.
• The total BNB supply has fallen to around 133 million tokens.

BNB Chain has completed its 36th quarterly token burn, permanently removing about US$932 million worth of BNB (CRYPTO:BNB) from circulation.

The latest burn reduced BNB's total supply to about 133 million tokens, moving the network closer to its long-term supply target.

The quarterly burn is carried out automatically through BNB Chain's Auto-Burn mechanism, which adjusts the number of tokens destroyed based on BNB's price and network activity.

BNB Chain plans to continue quarterly burns until the circulating supply falls to 100 million BNB, reducing the original supply by half.

BNB is the native token of the BNB Chain ecosystem and is used for transaction fees, staking and decentralised applications.

The latest burn continues one of the largest token reduction programmes in the cryptocurrency industry, with billions of dollars' worth of BNB permanently removed over the years.

At the time of reporting, BNB price was $579.37.