I'm a BNB shiller first and foremost and yes I have a bag of BNB that I'm DCA-ing in, I'm not gonna refute nor deny that.
As we all know BSC is the one true home of shitcoins, but I still believe in the potential of a coin that is managed by one of the top exchanges currently (and seemed to be not having a single problem despite being in a bear market).
For those who don't know the Binance Chain has been burning BNB quarterly. But at the start of the year they moved to a new auto-burn mechanism "to provide greater transparency and predictability" as they quote.
Just recently Binance just completed their 20th auto burn, amounting to 1,959,595.29 BNB which is worth 440-450 million USD at the time of burning. Last April on their 19th burn they burned 1,830,382 BNB which is around 770-775m usd. For their next burn next quarter they're projecting another 2M bnb coins to burn.
The burning mechanism can be seen here. Basically the amount to burn is proportional to the number of blocks produced in the chain over the value of BNB.
History of burns and total supply/burned chart can be found here.
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