Binance, via the BNB Foundation, has successfully conducted its 32nd quarterly token burn for the BNB cryptocurrency.
This latest burn operation was executed on July 10 at 07:29:06 AM UTC, resulting in the permanent removal of 1,595,599.78 BNB tokens from circulation. The eliminated tokens were valued at approximately $1.07 million, based on an average price of $660.16 for BNB.
Source: BSC scan
Despite the significant volume of tokens burned, the associated transaction fee was notably low at just 0.0000021 BNB, equaling around $0.001411.
BNB Token Auto-Burn Algorithm Eliminates $1.02 Billion Quarterly
This quarterly burn mechanism is part of a regular schedule, with the last event taking place in April, where over $1.02 billion worth of tokens were removed from the active supply.
The 32nd quarterly $BNB token burn has been finalized directly on the BNB Smart Chain (BSC).
1,595,599.78 BNB has been burned.
View burn details https://t.co/Zpd8EXfHPE pic.twitter.com/2Ls3peqwyj
— BNB Chain (@BNBCHAIN) July 10, 2025
Replacing the traditional manual burn process, the BNB Auto-Burn system uses market price data and the number of blocks generated each quarter to determine burn amounts. This automation ensures that the quarterly burn schedule is consistently maintained.
The burn calculation follows a specific formula: B = N * 1000 / (P + K), where “N” is the number of blocks produced, “P” represents the average price of BNB, and “K” acts as a fixed price anchor set at 1000.
Source: BNB burn
Recent upgrades, such as the Lorentz and Maxwell network advancements, have accelerated block generation on the BNB Smart Chain (BSC) compared to when the Auto Burn formula was implemented. This increased block production has prompted adjustments to the parameters of the formula to align with the intended effects of the system.
Since the inception of the original supply of 202 million BNB, over 62.7 million tokens have been burned, leaving a circulating supply of 139.28 million tokens.
Source: BNB burn
As part of its strategic plan to reach a target supply of 100 million BNB tokens, the BNB chain is actively pursuing supply reduction measures, positioning itself as one of the most deflationary layer-1 blockchain networks.
Whales Accumulate as BNB Eyes $733 Target
The anticipation surrounding the token burns often leads to increased scarcity, which can drive prices upward. Market watchers are hopeful that BNB will break through the $655 resistance point and set its sights on the $700 mark.
Cryptocurrency analyst “Inspired Analyst” has highlighted ongoing whale accumulation of BNB and identified a bullish ascending triangle pattern forming, suggesting a potential breakout around the $665 level.
$BNB Set for a Breakout?
After weeks of sideways action, #Binance Coin #BNB may be ready to move. Here’s why:
Active Users Up – 1.75M daily addresses = real demand
Whales Accumulating – Quiet buys point to smart money interest
Bullish Pattern Forming – Ascending… pic.twitter.com/i7BFaCgf0p
— Inspired Analyst (@inspirdanalyst) July 10, 2025
The analyst predicts that if BNB maintains its support above $635, a rally towards $733 could be within reach.
In addition to whale activity, daily trading volume for BNB has consistently remained above $1 billion, reflecting an expanding on-chain utilization. Over the last six months, active wallet addresses have shown steady growth, with several days surpassing 2 million active addresses and occasionally exceeding 3 million.
BNB Chain is quietly climbing
Over the last 180 days, active addresses have steadily risen — hitting multiple 2M+ days and even spiking above 3M.
Despite the noise, usage is growing. Don’t fade the builders pic.twitter.com/soSRPcsJbB
— Nansen (@nansen_ai) July 8, 2025
Furthermore, the BNB chain currently leads in 24-hour decentralized exchange (DEX) trading volume, surpassing $9.7 billion in activity, far outpacing competitors like Ethereum and Solana, which average around $2.4 billion.
Stablecoin activity on the network has also seen significant growth, with a market capitalization approaching $10.5 billion, making BNB the fourth-largest blockchain by stablecoin holdings.
$700 Resistance Battle: Technical Analysis Shows ‘New High’ Zone
The BNB/USDT 6-hour chart on KuCoin indicates strong bullish momentum, characterized by a series of ascending triangles and consolidation phases leading to frequent upward breakouts.
Since recovering from a correction in late June, BNB’s price has formed another triangular pattern and is currently advancing within a new ascending channel, having successfully surpassed the $650 resistance level.
Source: TradingView
As the price approaches a crucial resistance zone between $690 and $700—a region marked by both the upper boundary of the channel and a previous rejection point known as “New High”—the potential for further upward movement increases if current momentum is sustained.
@10XCapitalUSA launches $BNB treasury company backed by @YZiLabs targeting US public listing as corporate adoption explodes beyond Bitcoin-only strategies into BNB ecosystem.#BNB #Treasuryhttps://t.co/OaYEWjhoGV
— Finance Newso.com (@Finance Newso) July 10, 2025
The overall market structure remains bullish, and price action suggests an imminent effort to challenge the $700 resistance level in the near future, contingent on maintaining support above $650.
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