A closer look at Binance's record-breaking Q3

Binance, the largest crypto-to-crypto exchange based on reported volume, has finished its 13th quarterly burn on October 17th. The exchange took away the equivalent of $68 million in BNB from circulation, which is a 12.4% increase from $60.50 million in Q2 2020. This burn once again marks the largest burn Binance has ever made.

Binance has so far burned 25.85 million BNB (an equivalent of $426.5M) in 13 burn events, which represents about 12.9% of BNB’s total supply of 200 million. Over the past year, Binance has burned an average of 2.83 million BNB per quarter, which means that if it were to keep the same pace, it would burn the remaining supply in a little under 16 years.