Tag: native tokens
Binance, a global cryptocurrency exchange, has "burned" over a million tokens of its own cryptocurrency, BNB. The financial worth of these burnt tokens is estimated to be about $640 million (roughly Rs. 4,795 crores). To put things in perspective, "burning" crypto tokens is removing them from circulation in order to limit price inflation or get rid of unsold units. Binance has now burned tokens for the 17th time since its initial burn in October 2017.