Zhao Changpeng announced that over 700 million BNBs will be destroyed

BNB Chain reportedly destroyed more than 1.8 million coins (BNB) in its first destruction of the quarter. This is expected to have a significant impact on the price of the coin.

Changpeng Zhao tweeted about the fire at

$741,840,738 WORTH OF #BNB will soon be out of circulation.

Real time info: 👇HTTPS://T.CO/BIKWCIOHY7#BNB is deflationary. If you don't know what that means, you lack the basic financial knowledge to get lucky in this world. Harsh but true. It's time to learn. 🙏

- CZ 🔶 BINANCE (@CZ_BINANCE) April 19, 2022

B NB is the native coin chain of BNB Beacon Chain and BNB Smart, which fuels the BNB chain's ecosystem. Cryptocurrency exchange Coinan issued it after its initial coin offering (ICO) in 2017.