1 August 2026
Binance Burns 1M+ BNB Tokens, CEO shares Insights of the Latest Price Surge
The world’s largest cryptocurrency exchange by trading volume, Binance, has completed its fifteenth quarterly BNB burn. A total of 1,099,888 BNB, worth nearly $600 million, have been wiped out from the total supply.
Binance Coin (BNB) has been the best performing altcoins in the market and had reached an all-time high of $638 earlier this week. However, the coin had since then slipped below $600. Bulls are confident that following the record BNB burn registered a few hours ago, the altcoin will retest this high in the coming days.
The latest BNB to be burnt is much smaller than the last 6 periodic burns. But due to the rise in BNB prices, its US- dollar equivalent is a record $595,314,380, making it the highest ever.
With increasing crypto adoption in the Q1 of 2021, both Binance and BNB saw significant growth. In the last 3 months, BNB price jumped from $38 to$638. Binance exchange also recorded a 260% growth in traded volume and 346% in user registrations.
According to Binance CEO Changpeng Zhao, BNB’s rise is hugely fueled by Binance Smart Chain. The network has also significantly gained from DeFi, with the market leader Ethereum struggling to scale and keep transaction fees low.
PancakeSwap, the leading DEX on Binance Smart Chain, has also been part of this journey, gaining more than 11,286.93% in less than 5 months. The chain’s dominance has been evident in every avenue starting with the daily transaction. BSC recorded 4.9 million daily transactions, over 300% more than Ethereum’s all-time record. New unique addresses have reached 64 million. Ethereum currently has 148 million addresses, proof that BSC is growing at an exponential speed. In the same period, the chain has hosted over 450 projects.
The CEO also highlighted the significant role the chain played in the growing number of dApp wallets. Across all platforms, there was a +639%. BSC had an average of 105,000 daily active wallets. Across the entire market, daily active wallets stood at 458,000
Besides all this, Zhao also claimed other innovations that contributed to the rise of the company. Some of these include Binance Pay, Binance Card and Binance Lite
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