BNB Chain burns $1.2 billion, but can BNB price reclaim $750?

BNB Chain has completed its 37th quarterly token burn, removing 1,646,196.44 BNB worth approximately $1.197 billion as the cryptocurrency trades near $725 and continues struggling 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 foundation recorded the figures at 10:05 a.m. UTC, with the network continuing its supply-reduction program toward 100 million tokens. At press time, BNB traded at approximately $725.45, gaining around 0.5% in 24 hours. Its market capitalization stood near $95.42 billion, placing it fourth among cryptocurrencies, while daily trading volume reached approximately $705.68 million. The latest burn has not been accompanied by a substantial price rally in the available market snapshot.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.