BNB Holds Strong at $632 After 1.6M Token Burn, Surging Wallets and 36% DEX Market Share

BNB is currently trading at $632.54, down 4.60% over the last 24 hours from a 24h open of $663.06. The recent price decline can be attributed to profit-taking by spot traders after BNB’s strong performance earlier in June, as well as a technical pullback from resistance near $691 following the completion of Binance’s 30th quarterly BNB burn, which removed 1.6 million tokens from circulation. Despite the short-term correction, BNB’s fundamentals remain robust, supported by high trading volumes (over $1.57 billion in 24h), a surge in new wallet addresses (+26% to 589,657), and strong on-chain activity including a 36% DEX market share and rising network fees. Overall, BNB continues to demonstrate significant user engagement and liquidity, maintaining its position as a leading cryptocurrency despite recent price volatility.