Binance Burns Over One Million BNB, Boosting Price to Two-Week High
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The BNB Foundation conducted its 35th quarterly burn, destroying 1.569 million BNB, valued at approximately $1.02 billion. This burn reduced the total supply to 134.79 million tokens, nearing the 100 million target. Despite strong on-chain activity, BNB's price has underperformed Bitcoin year-to-date, falling over 27%. A recent price rebound to $625 briefly broke key resistance. Continued upward movement for BNB is contingent on Bitcoin breaking $76,000; failure could lead BNB to retest $580.
TradingKey - BNB Foundation burns over $1 billion in BNB, driving a brief price rebound; what is the future outlook?
On April 16, boosted by the latest burn news, the platform token of Binance, the world's largest exchange, BNB extended its gains, rebounding by nearly 2% and briefly breaking $625, hitting a new high since March 27 of this year.
Yesterday, the BNB Foundation announced the results of its 35th quarterly token burn, destroying a total of 1.569 million BNB, which was higher than the 34th quarter's volume; the value of this burn was approximately $1.02 billion, lower than the $1.2 billion in the previous burn. After the burn, the total remaining supply of BNB stands at 136 million, leaving a 26% gap to the final burn target of at least 100 million tokens.
BNB 34th and 35th Quarterly Burn Comparison
Comparison Item | 34th Quarterly Burn | 35th Quarterly Burn | Trend Change |
Announcement Date | January 15, 2026 | April 15, 2026 | Regular Quarterly Execution |
Total Burn Amount | 1,371,803.77 BNB | 1,569,307.34 BNB | Increase of approximately 14.4% |
USD Value at Time of Burn | Approximately $1.277 billion | Approximately $1.021 billion | Decrease of approximately 20% |
Total Remaining Supply After Burn | 136,361,374.34 BNB | 134,786,916.53 BNB | Steady progress toward the 100 million target |
This burn marks the first quarterly burn of the 2026 fiscal year, indicating that BNB Chain's on-chain activity remained strong in early 2026, although BNB's price performance has significantly lagged behind Bitcoin. Since the start of the year, the crypto market has continued to weaken, with Bitcoin ( BTC) falling by a cumulative 15%, while BNB's price has plummeted by over 27%.
BNB and BTC Performance (2026.1.1 - Present), Source: TradingView
From a technical analysis perspective, BNB prices have fluctuated within a range of $580-$680 over the past two months. The current rebound has reached the middle band, which acts as a resistance level. Whether it can continue its breakout depends on whether Bitcoin's price can sustain its momentum and break through $76,000. If BTC fails in its attempt to surge again, the weak BNB will retest the range bottom of $580 more quickly.
BNB Price Chart, Source: TradingView
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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