Binance destroys $60.5 million-worth of BNB in biggest burn to date

[Riya143]

The latest burn—on the exchange’s anniversary—hopes to boost the price of the token.
Cryptocurrency exchange Binance on Friday announced its biggest ever coin burn—removing $60.5 million worth of BNB from circulation.

The coin burn destroyed 3,477,388 BNB—an Ethereum-based ERC-20 token used as a medium of exchange on Binance. The 12th quarterly burn is part of the exchange’s strategy to cut its supply in half to 100 million coins.
Read More: https://decrypt.co/36009/binance-destroys-60-5-million-worth-of-bnb-in-biggest-burn-to-date