BNB Burn Schedule: When Is The 20th Binance Coin Burn?

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The next BNB Burn is nearly here, with holders looking closely at the Binance burn schedule for the 20th BNB Burn.

This regularly scheduled event saw a large amount of Binance Coin destroyed by top cryptocurrency exchange Binance. It is just one of many cryptocurrencies to burn coins, with Shiba Inu Burns being popular with the SHIB community.

Here's all you need to know about the latest BNB Burn, and what comes next.


When Was The 20th BNB Burn?

The 20th BNB burn took place on July 13 at 13:06 BST, destroying 1,955,413.52, or $444,632,106.

This is a significant amount less than the 19th BNB burn which, while it destroyed less BNB, was worth more in USD at the point of burn - around $772 million.

Binance confirmed the latest burn on Twitter, sharing the full transaction details. It cost 0.002 BNB for the burn to take place.

During the 16th BNB burn on July 18, 2022, Binance destroyed 1,296,728 BNB, worth $393,673,653.52.


When Is The Next BNB Burn?

The next BNB Burn - the 21st burn - should take place at the end of Q3 2022, in October 2022. More specifically, it should happen in mid-October.

The amount destroyed in the next BNB burn depends on the transactions on the BNB Chain. While the 20th burn may have been hit by this reduction in crypto prices and transactions, it is too early to speculate on how much BNB will specifically be destroyed.

However, the BNBBurn site that uses the auto-burn algorithm estimates 2,097,357.34 BNB could be destroyed.

It's worth keeping an eye on the Twitter account Changpeng Zhao (known as CZ) for the full confirmation of the burn details when they come.

During the 17th BNB burn in October 2021, Binance destroyed 1,335,888 BNB worth $639 million.


When Was The 19th BNB Burn?

The 19th BNB Burn took place on April 19, 2022, destroying 1,830,382 BNB in an auto-burn, worth some $772,363,806. This is slightly more than the 18th burn's $729m worth of BNB destroyed.

The burn was confirmed on Twitter by Binance's CEO CZ.

As this is a developing situation, we have yet to receive a larger blog post relating to the BNB burn. If Binance posts one, it should likely come within the next 24 hours.

The 15th BNB Burn in April 2021 saw 1,099,888 BNB destroyed. This was worth $595,314,380 at the time of the burn.


How Much BNB Is Burned?

The Binance BNB burn mechanism changed drastically for the 18th burn. It is now an auto-burn that runs on a specific formula. The main difference is that it no longer reflects Binance's profits, but is based on BNB's on-chain activity.

According to Binance, the new burn mechanism is "both objective and verifiable", and also provides flexibility as supply and demand for BNB changes.

Aside from this, Binance also burns in real-time, destroying around 101,000 BNB following its Bruno upgrade.

Binance's original whitepaper stated that the exchange would burn 20% of its quarterly profits in the BNB burn. The whitepaper was changed in 2019 to remove such a reference, meaning it is no longer clear how much BNB will be burned, or what proportion of profits this will be.


One explanation for these changes comes from the accelerated BNB burn. Binance has promised to burn 100,000,000 BNB - or 50% of the total supply. It now expects to take 5-8 years, rather than 27 years, according to CZ.

"Initially, the speed of the burn was associated with trading volumes on Binance," said CZ after the 14th BNB Burn. "This turns out to be somewhat “slow”, or at least slower than we originally anticipated."

"One negative side effect may be that you won’t be able to use the burn number to reverse calculate Binance revenues, etc. You may still be able to infer that our revenues are lower than a certain number. But it will be a rough guess at best."

What is a BNB Burn?

The BNB burn is a quarterly event whereby Binance buys back BNB and then burns, or destroys, this BNB. This will continue until Binance has burned 100,000,000 BNB.

Binance Coin is not the only cryptocurrency subject to coin burning. In May 2021, Ethereum co-founder Vitalik Buterin burned 90% of his SHIB - over 410 billion SHIB worth over $7bn on the day of transfer - gifted to him by the Shiba Inu founder.

Following the implementation of EIP-1559, Ethereum now also burns ETH at a high rate.