BNB Token Hits New All-Time High After 1.6M Burn and $60M Institutional Surge

BNBUSDT experienced a notable price increase of 4.57% over the last 24 hours, rising from an open of 762.90 to a current price of 797.75. The surge is primarily attributed to several positive developments: Binance's announcement of scheduled maintenance for BNB withdrawals, a recent BNB burn event that removed 1.6 million tokens from circulation, and significant institutional interest, including Nano Labs acquiring 120,000 BNB and Windtree Therapeutics reporting $60 million in BNB holdings. Additionally, BNB reached a new all-time high of $804.70, supported by increased trading volume and strong technical indicators, with market sentiment remaining bullish.

Currently, BNB trades at 797.75 with a 24-hour trading volume between $2.84 billion and $3.20 billion, a market capitalization exceeding $110 billion, and a circulating supply of approximately 139.29 million coins, reflecting robust market activity and continued upward momentum.