BNB Burn Reaches 1.65M BNB, Third Straight Quarterly Rise

BNB Chain has completed another quarterly token burn, and it is the biggest in coin terms in the four most recent rounds. The latest BNB burn was announced on October 19 by the BNB Foundation. Here is how it compares with the three before it.

The 37th BNB burn in numbers

The foundation says BNB Chain removed 1,646,196.44 BNB from circulation. That was worth about $1.20 billion at the time of the burn. Remaining supply stood at 131,512,085 BNB at 10:05 a.m. UTC.

The foundation's figures for the latest burn. Source: BNB Chain blog, 37th BNB Burn.

The burn is automatic. A formula uses BNB's price and the number of blocks produced on BSC in the quarter. It runs on the chain itself, not on the Binance exchange, and the coins go to the 0x...dEaD address that nobody controls. The target is to shrink total supply to 100 million BNB.

Three rises in a row

Earlier posts on the same blog give the previous amounts. The 34th burn removed 1,371,803.77 BNB, the 35th 1,569,307.34 and the 36th 1,615,827.795. The 37th therefore adds about 30,400 BNB to the last one, a gain of roughly 1.9%, by our arithmetic.

Dollar values moved more. The 36th burn was worth about $931.7 million in July, against $1.197 billion now. Dividing each by its coin count suggests about $577 a coin then and $727 now, by our calculation.

The 36th burn announcement for comparison. Source: BNB Chain blog, 36th BNB Burn.

On October 19, CoinGecko had BNB changing hands near $726, up about 2% on the day.

More coins burned at lower prices

Each announcement also puts a dollar value on the burn. Divide that by the coins removed and you get a rough price at the moment of the burn. It starts near $931 for the 34th, sinks to about $577 by the 36th, and recovers to $727 for the 37th, by our arithmetic.

So the coin count rose while the implied price fell, then kept rising as the price came back. The foundation says the formula weighs the BNB price and the number of blocks produced in the quarter. The 34th round also counted a 100.1 BNB pioneer burn on top of the main amount.

Supply keeps shrinking

The blog lists remaining supply after each burn, and the number has come down every time. It was about 136.4 million BNB after the 34th and is 131.5 million now. That is roughly 4.85 million fewer coins, by our arithmetic.

The target is 100 million, which leaves about 31.5 million to go. At the latest pace that would take close to 19 quarters. The formula changes the amount with price and block count, so the real path will differ.

Two burn mechanisms

BNB has a second, separate way of shrinking. Under BEP-95, part of the gas fees collected in each BSC block is burned in real time, and validators set the ratio. The quarterly auto-burn is on top of that.

The foundation also changed the formula's parameters after the Lorentz and Maxwell upgrades. BSC now produces blocks more often than when the formula was written, and the change keeps the original intent.

The figures here are the foundation's own, taken from its blog. This article is not advice to buy or sell BNB.