- BNB rose 2.8% to $688.70, boosted by a $1B token burn and institutional treasury demand.
- Over 1.59M BNB were burned in Binance’s 32nd quarterly burn, pushing supply lower.
- Active users and transactions on BNB Chain are soaring, while price consolidates just below $700.
BNB is closing in on the $700 mark after rising 2.8% in the last 24 hours, climbing from $670.40 to $688.70. The rally was fueled by a combination of a fresh $1 billion token burn and a wave of interest in using BNB as a corporate treasury asset—both of which are reinforcing the token’s bullish momentum.
Bitcoin’s new all-time high above $118,000 has also created a broader market tailwind, pushing crypto assets across the board higher, with BNB standing out thanks to its deflationary moves and growing institutional appeal.
$1B Token Burn Tightens BNB Supply
Binance’s 32nd quarterly burn removed approximately 1.59 million BNB from circulation, bringing the total number of tokens burned to over 265,605. This is part of a long-term deflationary strategy aimed at reducing the total supply to 100 million tokens, which in turn supports higher prices through scarcity.
The latest burn helped spark a price surge, sending BNB to an intraday high of $695 before consolidating just below that level. Strong support has now formed around $688.80 to $689.00, with resistance holding steady near $695.12.
Institutional Momentum: BNB as Treasury Reserve
More than 30 corporate teams are reportedly working on structuring public-company treasury reserves in BNB. Notably, 10X Capital is backing a $500 million U.S.-listed BNB treasury company—a move that could further legitimize BNB’s role in institutional finance.
On-chain activity is also ramping up. According to Nansen, daily active addresses on BNB Chain have doubled since March, now hovering around 2.5 million. Daily transaction volumes have tripled over the same period, reflecting growing usage across the network.
Technical Picture: Tight Range, Heavy Volume
BNB showed a solid 2.77% gain during the latest session. It traded within a $27.51 range, hitting a low of $667.61 and topping out near $695.12. Volume soared to 155,426 tokens—well above the 24-hour average of 64,169—underscoring strong conviction behind the move.
After the initial push, the price settled into a tight $1.51 consolidation band, a sign of controlled momentum as traders eye the key $700 resistance. A break above that level could open the door to further upside.
