A closer look at Binance's BNB burns

Binance, the largest crypto-to-crypto exchange based on reported volume, has finished its 11th quarterly burn on April 18th. The exchange took away the equivalent of $52.47 million in BNB from circulation, which is a 35.2% increase from $38.8 million in Q4. This burn marks the largest burn Binance has ever made.

Binance has so far burned 20.12 million BNB (an equivalent of $298M) in 11 burn events, which represents about 10.1% of the total supply of 200 million.