BNB Token Surges 2.58% as $2.8M Prizes, Major Burn, and $50M OTC Deal Drive Momentum

BNBUSDT has risen 2.58% over the past 24 hours, with the current price at 687.58 and a 24-hour open of 670.27. The price increase is primarily attributed to Binance’s 8th anniversary promotions, which have boosted user engagement through global events and over $2.8 million in BNB prizes, as well as the completion of the 32nd quarterly BNB burn that removed 1.59 million BNB from circulation, reducing supply. Additional upward momentum has been supported by strong trading activity, as evidenced by a 24-hour volume of approximately $2.32 billion, and positive sentiment following a major OTC purchase of BNB by Nano Labs valued at around $50 million. Technical analysis indicates bullish momentum, with BNB breaking key resistance levels and consolidating near recent highs, suggesting continued interest from buyers. BNB’s market capitalization stands near $96–100.5 billion, ranking it among the top five cryptocurrencies, with a circulating supply of about 139–150 million tokens.