binance bnb danger amid regulatory pressure cover 768x403 2 Binance Burns Over $400 Million in BNB Tokens

Binance Burns Over $400 Million in BNB Tokens

– BNB Chain has completed its latest quarterly auto-burn token event, taking roughly $444 million worth of BNB out of circulation.

– Binances blockchain burned 1,959,595.29 BNB tokens worth more than $444 million Wednesday. The total sum burned accounts for 1.2% of the circulating supply.

– Binance has burned more than 38,683,447 BNB to date, making significant strides to achieve its long-term goal of reducing the total BNB supply by 50%.

– Todays burn event is BNB Chains 20th since the program was launched in late 2017.

– The height of the triangles Y-axis added downward from the breakout point anticipates an almost 24% correction for BNB. Further selling pressure could validate the bearish formation, potentially pushing its price to the $175 level.

binance bnb danger amid regulatory pressure cover Binance Burns Over $400 Million in BNB Tokens
Binance Burns Over $400 Million in BNB Tokens 3

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