BNB Token Sees 2.66% Dip After 1.59M Burn and Maxwell Upgrade Boost Market Activity

BNBUSDT experienced a 2.66% price decrease over the past 24 hours, with the current price at 683.80 and a 24h open of 702.51. The recent price volatility is attributed to market reactions following Binance’s 8th anniversary events, the completion of the 32nd quarterly token burn (removing over 1.59 million BNB from circulation), and the Maxwell upgrade on the BNB Chain, which improved network efficiency. While these events initially drove bullish sentiment and increased trading volume, profit-taking and resistance near the $700 level contributed to the recent pullback.

BNB maintains strong market activity, with a 24-hour trading volume exceeding $1.17 billion and a market capitalization near $95 billion, ranking it among the top five cryptocurrencies by market cap. The circulating supply continues to decrease due to ongoing token burns, supporting a deflationary outlook for the asset.