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BurnBNB reports destruction of 156800 BNBs worth $58.29 million

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According to reports, BurnBNB said on social media that since the BEP-95 real-time destruction and upgrading, 156800 BNBs have been destroyed, with a value of …

BurnBNB reports destruction of 156800 BNBs worth $58.29 million

According to reports, BurnBNB said on social media that since the BEP-95 real-time destruction and upgrading, 156800 BNBs have been destroyed, with a value of about $58.29 million. It is reported that BNB’s real-time destruction mechanism was proposed by BEP-95, which is similar to the current EIP-1559 destruction mechanism of Ethereum.

Data: 156800 BNBs have been destroyed after BEP-95 upgrade

Analysis based on this information:


BurnBNB, a popular cryptocurrency exchange, has recently announced on social media that they have destroyed 156800 BNBs worth approximately $58.29 million. This announcement was made in light of the implementation of the BEP-95 real-time destruction and upgrading mechanism, which is a similar mechanism to the EIP-1559 destruction mechanism of Ethereum.

The BEP-95 mechanism involves the automatic burning of a certain percentage of BNB from transactions, reducing the circulating supply of the coin. This process aims to decrease inflation and increase the value of the coin over time. The amount of BNB to be burned is determined by the trading volume of the exchange, the price of BNB, and the percentage to be burned.

This move to decrease inflationary pressures on BNB has been positively received by the cryptocurrency community, with many applauding the efforts of BurnBNB and its implementation of BEP-95. The destruction of BNBs will inevitably lead to an increase in the value of the remaining BNBs in circulation, which is good news for investors who hold BNB.

Moreover, this real-time destruction mechanism mirrors the EIP-1559 destruction mechanism of Ethereum, which is also designed to limit inflation and increase the value of Ether. The EIP-1559 mechanism involves the burning of a portion of the transaction fees collected by miners during transfers, resulting in a decrease in the total number of Ether in circulation.

In conclusion, BurnBNB’s announcement of the destruction of 156800 BNBs is a significant move towards decreasing the inflationary pressure on the coin, leading to an increase in its value. This is in line with the aim of the BEP-95 mechanism, which is to reduce the total amount of BNB in circulation, ultimately increasing its value. The similarity of this mechanism to Ethereum’s EIP-1559 mechanism indicates that this approach towards limiting inflation could become more prevalent in the world of cryptocurrencies going forward.

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