Cryptocurrency exchange Binance completed the 19th quarter Binance Coin (BNB) token burn using the Auto Write mechanism.

#Binance 19th Quarter Completed #BNB Burn!

🔥 1.8m #BNB burned 🔥https://t.co/BX51dEh8We

— Binance (@binance) 19 April 2022

1,839,786.26 BNB (~$741.8 million at the time of writing) was withdrawn from circulation, including 9,403.78 BNB through the Pioneer Burn program.

As part of the previous round in January 2022, Binance burned 1,684,387.11 BNB, worth $795 million in fiat.

At the end of 2021, Binance abandoned the concept of quarterly destruction of BNB in ​​favor of the Auto-Burn mechanism for its automatic removal from circulation.

The algorithm does not take into account the revenue generated by the Binance trading platform, it is solely based on the BNB price and the number of blocks issued during the quarter. The program will be terminated when the total number of tokens burned reaches 100 million.

Recall that in December 2021, the BNB Chain hard fork Bruno took place at 13,082,000 blocks, and a fixed gassing burn mechanism was activated on each block.