#BinanceHODLerLA 📰 BNB Burns 1.6M Tokens Worth Over $1 Billion — Bulls Aim for $770
The BNB Foundation has completed its 32nd quarterly token burn, removing 1,595,599.78 BNB — valued at over $1.02 billion — from circulation. This move reduced the remaining total supply to 139.29 million BNB, continuing its long-term plan to bring total supply down to 100 million.
This isn’t just symbolic — it’s fundamental. BNB’s Auto-Burn mechanism adjusts burn size based on price and BSC network activity. Combined with BEP95’s real-time burn from gas fees, this deflationary model builds real pressure for upward price action.
And that’s exactly what we’re seeing.
BNB surged to $695, where I sold a portion of my holdings. My next target: $770. The technicals support the sentiment. Open interest has jumped to $781.5M, while derivatives volume rose 34%, showing traders are confident and positioned long.
Momentum indicators like the MACD have flipped bullish. BNB is now trading above its 50, 100, and 150-day SMAs — a textbook bullish structure.
But here’s the key: if BNB holds above $680, a clean breakout toward $700–$720 becomes likely. A daily close above $710 could pave the way to $740+.
While short-term pullbacks remain possible, the broader picture is strong. This $1B burn isn’t just a headline — it’s a signal: BNB is tightening supply, and the market is responding.
Disclaimer: This is not financial advice. I'm a spot trader sharing personal views. Always DYOR.
