BNB Chain completed its 37th quarterly burn, removing 1,646,196.44 BNB worth approximately $1.197 billion. The token still trades near $725, below the 750–752 resistance area.
BNB Chain has removed 1,646,196.44 BNB, worth approximately $1.197 billion, in its 37th quarterly token burn. The token trades near $725 and remains below key technical resistance.
According to the BNB Foundation's October 19 announcement, the burn took place directly on BNB Smart Chain and reduced the reported total supply to 131,512,085 BNB.
The October burn exceeds July's
The October burn removed more tokens than the previous event in July, when the foundation destroyed 1,615,827.795 BNB worth approximately $931.7 million. The latest operation removed an additional 30,368.645 BNB, an increase of approximately 1.88%.
The dollar value rose by approximately $265.6 million, or 28.5%. The difference reflects both the extra tokens destroyed and the higher BNB price used to value the burn.
The program is designed to continue until total supply reaches 100 million BNB. About 31.51 million tokens remain above that target.
BNB stays below $750
At press time, BNB traded at approximately $725.45, gaining around 0.5% in 24 hours, with a market capitalization near $95.42 billion.
The chart shows signs of weak buying momentum. The 20-day simple moving average sits at $751.70, the upper Bollinger Band at $800.51 and the lower band at $702.89. The Bollinger Bands indicator measures how far prices move from a central moving average.
The Relative Strength Index stood at 41.32, below its moving average of 45.04 and the neutral level of 50. CoinGecko's seven-day reading showed BNB approximately 3.3% lower.
Support at $700, resistance at $800
The immediate support region lies between $700 and $703. A sustained move below it could expose BNB to selling toward $680, followed by $640.
For a recovery, buyers would first need to push BNB above 750–752. Stronger resistance appears between $780 and $800.
The source notes that neither the burn's reported dollar value nor the daily price change establishes a direct causal relationship between the two.
Source: crypto.news
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