• During the past three months, Binance managed to burn about 2.139 million BNB coins, worth approximately $501 million thus bringing the total burned units to around 50.29 million.
• The 25th BNB burn also included about 314 coins that were facilitated by the pioneer program that works to reimburse holders who have lost their coins through uncontrolled smart contracts.

The Binance network has successfully completed the 25th quarterly BNB auto-burn process with about 2,139,182 coins, worth over $453 million with an average value of about $234, completely removed from the circulating supply.

According to the announcement, the 25th BNB auto-burn included about 314 coins through the Pioneer Burn Program, which was introduced to reimburse holders who have lost their coins to faulty smart contracts.

Moreover, the Binance team and community get to decide if the lost coins through faulty smart contracts are permanently irretrievable before initiating the compensation program. Consequently, Binance burned about 2,138,868 BNB coins during the third quarter.

Binance’s Market Outlook from the BNB Auto-Burn Program Perspective

The BNB coin is the native crypto asset to the BNB Beacon Chain, the BNB Smart Chain, the opBNB L2s, and the BNB Greenfield blockchain. With every transaction on the four blockchains, a portion is dedicated to the auto-burn program in a bid to cut the total BNB circulating supply to 100 million within the next few years.

The BNB auto-burn initiative is geared towards making the Binance ecosystem a deflationary financial ecosystem that helps investors hedge against high fiat inflation.

Furthermore, the value of BNB gained by about 3 percent in the past 24 hours to trade around $213 on Monday, with its daily average traded volume up approximately 50 percent to about $489 million according to market data provided by Binance-backed coinmarketcap.

Following a successful 25th  BNB auto-burn, the Binance team is expected to close its next quarterly burn with about 2.18 million removed from the total circulating supply. Notably, the Binance team gave an assumption that the price would range around $211.31 with about 2.64 million blocks finalized during the fourth quarter. Currently, the total BNB burned amounts to about 50.29 million out of the total 202 million coins.

Ultimately, the BNB auto-burn program is geared towards giving value to the community of global holders amid heavy crypto speculation caused by the ongoing mainstream adoption of digital assets. Additionally, the BNB quarterly auto-burn is meant to help in the advertisement of the Binance network to new investors as a deflationary ecosystem.

Bigger Picture

The Binance team is working on democratizing the smart contracts with its vibrant DeFi ecosystem that boasts more than $2.7 billion in Total Value Locked (TVL) and over $5 billion in stablecoins market cap.

Nonetheless, the Binance team is fighting to retain its status as the leading crypto ecosystem amid regulatory crackdown in the United States and the United Kingdom following claims of money laundering and aiding of unregulated securities assets. As a result, Binance will have to prove to the regulators that BNB is as decentralized as Bitcoin in order to obtain institutional investors’ backing.