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Binance Burns $1 Billion Worth of BNB – How High Can BNB Go Next?

2025-07-10 12:00:30

Binance Burns $1 Billion Worth of BNB – How High Can BNB Go Next?

Main Idea

Binance completed its 32nd quarterly BNB token burn, removing 1.59 million BNB tokens from circulation, valued at approximately $1.07 billion, as part of its deflationary strategy, while whales accumulate BNB targeting a $733 breakout.

Key Points

1. Binance burned 1,595,599.78 BNB tokens in its 32nd quarterly burn event, reducing the circulating supply to 139.28 million tokens.

2. The BNB Auto-Burn system calculates burn amounts based on BNB’s market price and block production, following the formula B = N * 1000 / (P + K).

3. Whales are accumulating BNB, with analysts predicting a potential breakout above $655 resistance toward $700, contingent on maintaining support above $635.

4. BNB Chain leads in 24-hour DEX trading volume with over $9.7 billion, surpassing Ethereum and Solana, and has seen steady growth in active wallet addresses.

5. Technical analysis shows BNB nearing a critical resistance zone between $690 and $700, with bullish momentum suggesting a potential test of this level.

Description

Binance, through the BNB Foundation, has successfully completed the 32nd quarterly token burn event for the BNB cryptocurrency. The burn operation took place precisely at 07:29:06 AM UTC on July 10, eliminating 1,595,599.78 BNB tokens from circulation, valued at approximately $1.07 million based on an average BNB price of $660.16. Source: BSC scan Remarkably, despite the substantial volume of tokens burned, the transaction fee amounted to merely 0.0000021 BNB (equivalent to $0.001411). BNB token...

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Altcoin News Binance BNB Chain
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