BNB Surges 3.6% as Token Burn, Anniversary Rewards, and DeFi Growth Drive Bullish Momentum

BNBUSDT has experienced a 3.60% price increase over the past 24 hours, rising from 708.92 to 734.42. This upward movement is attributed to several factors, including Binance's 8th anniversary campaign, which has increased user engagement through digital badge collection and BNB reward activities, as well as the recent completion of the 32nd BNB token burn that destroyed over 1.59 million tokens, enhancing BNB's scarcity. Additional positive sentiment stems from ongoing ecosystem growth, particularly the expansion of DeFi and NFT activity on Binance Smart Chain, and institutional interest highlighted by the launch of a BNB treasury company by YZi Labs and 10X Capital.

Currently, BNB is trading at 734.42 with a 24-hour trading volume of approximately $2.84 billion and a market capitalization estimated between $102.12 billion and $106.62 billion, ranking it 5th among cryptocurrencies. The asset remains above key support levels and is showing bullish momentum, with immediate resistance near $739.67 and support at $696.05.