{"id":11057,"date":"2024-11-02T10:30:42","date_gmt":"2024-11-02T10:30:42","guid":{"rendered":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/"},"modified":"2024-11-02T10:30:42","modified_gmt":"2024-11-02T10:30:42","slug":"bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price","status":"publish","type":"post","link":"https:\/\/cryptd.in\/es\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/","title":{"rendered":"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price?"},"content":{"rendered":"

On Friday, November 1, the BNB Foundation announced<\/a> the successful completion of the 29th quarterly burn by the BNB Chain. This latest event of the routine token burn reiterates the project\u2019s commitment to a deflationary approach in order to ensure growth.<\/p>\n

A total of 1,772,712.363 BNB tokens (worth approximately $1.07 billion) were automatically burned in this quarter\u2019s event. According to the foundation\u2019s blog post, this quarter\u2019s burning was (and subsequent token burning events will be) performed directly on Binance Smart Chain (BSC), with the burn amount sent to a \u201cblack hole\u201d address.<\/p>\n

Can The Latest Burn Event Propel BNB\u2019s Price To $600?<\/b><\/h2>\n

Token burning, a process in which tokens or coins are purposely and permanently removed from circulation, is carried out to trigger an increase in a token\u2019s value. Similarly, the quarterly token burn<\/a> can have a significant impact on BNB\u2019s price by decreasing the total supply, thereby creating a deflationary effect.<\/p>\n

Moreover, the consistency of the quarterly BNB burns shows the dedication of the foundation to the long-term growth and success of the token. This positive trend could favorably impact general market sentiment, as it strengthens investors\u2019 trust in BNB\u2019s potential as a stable investment.<\/p>\n

However, it is worth looking at the impact of previous quarterly burns on the BNB price<\/a> to be able to gauge the potential effect of the latest event. Notably, the 28th token burn, which was completed on July 22, 2024, didn\u2019t exactly have a bullish impact on the value of the fourth-largest cryptocurrency.<\/p>\n

According to data from CoinGecko, the price of the BNB token sat just above $600 as of July 22. Unexpectedly, the token\u2019s price fell more than 22% to a low of $464 about two weeks after the burn event. BNB\u2019s value seemed to have crumbled under the bearish climate<\/a> of the general market.<\/p>\n

The BNB token has mostly been in a consolidation range over the past few months, mirroring the state of Bitcoin and the general crypto market. Fortunately, the premier cryptocurrency seems to be back in the bullish zone after returning to $70,000 for the first time since June.<\/p>\n

If the strong positive correlation between BNB and Bitcoin plays out, it means that investors could see Binance\u2019s native token resume its upward trend. Hence, BNB seems to have a positive outlook and could soon reclaim $600<\/a>, especially if the flagship cryptocurrency remains bullish.<\/p>\n

BNB Price At A Glance<\/b><\/h2>\n

As of this writing, the value of BNB stands around $571.8, reflecting a 0.6% price dip in the past 24 hours.<\/p>\n

\"BNB\"<\/p>","protected":false},"excerpt":{"rendered":"

On Friday, November 1, the BNB Foundation announced the successful completion of the 29th quarterly burn by the BNB Chain. This latest event of the routine token burn reiterates the project\u2019s commitment to a deflationary approach in order to ensure growth. A total of 1,772,712.363 BNB tokens (worth approximately $1.07 billion) were automatically burned in […]<\/p>\n","protected":false},"author":0,"featured_media":11058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/es\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"On Friday, November 1, the BNB Foundation announced the successful completion of the 29th quarterly burn by the BNB Chain. This latest event of the routine token burn reiterates the project\u2019s commitment to a deflationary approach in order to ensure growth. A total of 1,772,712.363 BNB tokens (worth approximately $1.07 billion) were automatically burned in […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/es\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-02T10:30:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tradingview.com\/x\/8MqZo9Ec\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price?\",\"datePublished\":\"2024-11-02T10:30:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/\"},\"wordCount\":430,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/photo_2024-11-02_03-38-58-AGojo2.jpeg\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/\",\"name\":\"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? - cryptd.in\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/photo_2024-11-02_03-38-58-AGojo2.jpeg\",\"datePublished\":\"2024-11-02T10:30:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/photo_2024-11-02_03-38-58-AGojo2.jpeg\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/photo_2024-11-02_03-38-58-AGojo2.jpeg\",\"width\":460,\"height\":307},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cryptd.in\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"name\":\"cryptd.in\",\"description\":\"Alternative LinkedIn for Crypto-friendly Talents\",\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cryptd.in\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\",\"name\":\"cryptd.in\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"width\":900,\"height\":900,\"caption\":\"cryptd.in\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? - cryptd.in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptd.in\/es\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/","og_locale":"es_ES","og_type":"article","og_title":"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? - cryptd.in","og_description":"On Friday, November 1, the BNB Foundation announced the successful completion of the 29th quarterly burn by the BNB Chain. This latest event of the routine token burn reiterates the project\u2019s commitment to a deflationary approach in order to ensure growth. A total of 1,772,712.363 BNB tokens (worth approximately $1.07 billion) were automatically burned in […]","og_url":"https:\/\/cryptd.in\/es\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/","og_site_name":"cryptd.in","article_published_time":"2024-11-02T10:30:42+00:00","og_image":[{"url":"https:\/\/www.tradingview.com\/x\/8MqZo9Ec\/","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_misc":{"Tiempo de lectura":"2 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#article","isPartOf":{"@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/"},"author":{"name":"","@id":""},"headline":"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price?","datePublished":"2024-11-02T10:30:42+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/"},"wordCount":430,"commentCount":0,"publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"image":{"@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/photo_2024-11-02_03-38-58-AGojo2.jpeg","articleSection":["Feeds"],"inLanguage":"es","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/","url":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/","name":"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? - cryptd.in","isPartOf":{"@id":"https:\/\/cryptd.in\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#primaryimage"},"image":{"@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/photo_2024-11-02_03-38-58-AGojo2.jpeg","datePublished":"2024-11-02T10:30:42+00:00","breadcrumb":{"@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/"]}]},{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#primaryimage","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/photo_2024-11-02_03-38-58-AGojo2.jpeg","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/11\/photo_2024-11-02_03-38-58-AGojo2.jpeg","width":460,"height":307},{"@type":"BreadcrumbList","@id":"https:\/\/cryptd.in\/bnb-token-burn-1-billion-of-tokens-sent-to-black-hole-address-impact-on-price\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptd.in\/"},{"@type":"ListItem","position":2,"name":"BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price?"}]},{"@type":"WebSite","@id":"https:\/\/cryptd.in\/#website","url":"https:\/\/cryptd.in\/","name":"cryptd.in","description":"LinkedIn alternativo para talentos criptoamigables","publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptd.in\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Organization","@id":"https:\/\/cryptd.in\/#organization","name":"cryptd.in","url":"https:\/\/cryptd.in\/","logo":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","width":900,"height":900,"caption":"cryptd.in"},"image":{"@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/posts\/11057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/comments?post=11057"}],"version-history":[{"count":0,"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/posts\/11057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/media\/11058"}],"wp:attachment":[{"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/media?parent=11057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/categories?post=11057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptd.in\/es\/wp-json\/wp\/v2\/tags?post=11057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}