$BNB Approaching 798! Countdown to the 37th Quarterly Burn—Can it hold its ground at the 800 level this time?
BNB is currently trading at 797.16; in the past 24 hours, the high reached 798.60. It’s just one step away from 800. The biggest catalyst is closing in—the 37th quarterly burn is expected to take place in mid-October. Looking back at the 36th burn in July: about 1.616 million BNB were burned, worth roughly $932 million. After the burn, the remaining circulating supply fell to about 133 million BNB. BNB Chain’s long-term goal is to ultimately compress the total supply down to 100 million.
On the technical side, the 1-hour moving averages are arranged bullishly, and the MACD has formed a golden cross with the red histogram expanding. However, on the daily chart, the KDJ’s J value has already surged to 99.97—extremely overbought. Strong resistance is formed above by the daily high at 808.23 and the Bollinger upper band at 809.81.
What you need to stay clear-eyed about is that burns have been scheduled since 2017, with supply reduced by roughly 1.2% each quarter. The market has already priced this in ahead of time, and it rarely produces an immediate, noticeable effect on the day itself. Whether 800 can flip from resistance to support ultimately depends on whether the burn can bring real, increased capital inflows. Will this burn be the key that opens the door to 800? Share your thoughts in the comments!
$BTC $ETH #BNB突破790美元 #比特币现货ETF三季度净流入63.4亿美元
BNB is currently trading at 797.16; in the past 24 hours, the high reached 798.60. It’s just one step away from 800. The biggest catalyst is closing in—the 37th quarterly burn is expected to take place in mid-October. Looking back at the 36th burn in July: about 1.616 million BNB were burned, worth roughly $932 million. After the burn, the remaining circulating supply fell to about 133 million BNB. BNB Chain’s long-term goal is to ultimately compress the total supply down to 100 million.
On the technical side, the 1-hour moving averages are arranged bullishly, and the MACD has formed a golden cross with the red histogram expanding. However, on the daily chart, the KDJ’s J value has already surged to 99.97—extremely overbought. Strong resistance is formed above by the daily high at 808.23 and the Bollinger upper band at 809.81.
What you need to stay clear-eyed about is that burns have been scheduled since 2017, with supply reduced by roughly 1.2% each quarter. The market has already priced this in ahead of time, and it rarely produces an immediate, noticeable effect on the day itself. Whether 800 can flip from resistance to support ultimately depends on whether the burn can bring real, increased capital inflows. Will this burn be the key that opens the door to 800? Share your thoughts in the comments!
$BTC $ETH #BNB突破790美元 #比特币现货ETF三季度净流入63.4亿美元