Binance burns 1.44M BNB ($1.65B), deepens supply squeeze
Binance has executed its latest quarterly BNB burn, removing 1.44 million tokens—worth about $1.65 billion—from circulation. This deflationary token burn raises total BNB destroyed to 64.26 million and cuts the circulating supply to 137.7 million. At the annual burn rate of around 4 million BNB, supply could fall below 100 million within ten years.
These BNB burn events are funded by on-chain transaction fees and boosted by rising on-chain activity after partnerships such as Kyrgyzstan onboarding. Binance founder CZ also points to growing demand from treasury firms and community initiatives as bullish catalysts. On-chain metrics from Arkham show net exchange outflows averaging 179,000 BNB in October, indicating strong holder accumulation.
Technically, BNB has held above the $1,000 support level following a rejection near $1,400 resistance. Key indicators such as the daily RSI and On-Balance Volume remain in bullish territory. While macroeconomic factors may spark short-term volatility, the ongoing BNB burn and supply squeeze support a bullish long-term outlook. Traders should monitor burn schedules, network growth, technical levels, and broader market conditions.
Bullish
The quarterly BNB burn reduces circulating supply and intensifies the deflationary token burn mechanism. Rising on-chain activity and negative exchange flows signal increased holder accumulation. Bullish technical indicators like RSI and OBV, coupled with support at key price levels, further underpin positive sentiment. While macro factors may cause short-term volatility, the combined impact of persistent supply reduction and growing demand suggests a bullish outlook for BNB in both the short and long term.