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Binance, the world’s largest crypto exchange, continues to prioritize the price growth of its exchange token, Binance Coin (BNB).
8th #Binance Coin Burn: From the Team $BNB Allocationhttps://t.co/gJrEj4axyc pic.twitter.com/9YfsF5HQP2
— Binance (@binance) July 12, 2019
According to a recent blog post, Binance plans to relinquish the BNB tokens allocated to its core team, which currently equates to 40% of the total BNB supply — 80,000,000 BNB, currently worth about $2,400,000,000.
The new commitment comes as Binance finishes its eighth quarterly BNB token burn, which removed 808,888 BNB (roughly $23.8 million equivalent) from Binance Team tokens. This accounted for around 0.43% of the total supply.