🚨 BNB BURNS OVER 1.64 MILLION TOKENS
On October 19, BNB Chain announced its 37th quarterly token burn, removing 1,646,196.44 BNB, worth approximately $1.197 billion at the time. The remaining supply was reported at 131.51 million BNB.
📊 But don’t rush to conclude that BNB is about to rise! Data shows BNB is down around 3.86% over the past 7 days, despite being up 26.91% over the past 3 months. Meanwhile, TVL on BNB Chain is around $5.94 billion, and 24-hour DEX volume is approximately $670.9 million.
🔎 Scenario to watch: If BNB maintains a positive price structure and liquidity and on-chain activity remain strong, the token burn could reinforce long-term expectations. Conversely, if the price continues to weaken, reducing the supply may not be enough to reverse the trend.
💬 Do you think BNB is consolidating ahead of a new rally, or does it still need more confirmation signals?
#BNB
On October 19, BNB Chain announced its 37th quarterly token burn, removing 1,646,196.44 BNB, worth approximately $1.197 billion at the time. The remaining supply was reported at 131.51 million BNB.
📊 But don’t rush to conclude that BNB is about to rise! Data shows BNB is down around 3.86% over the past 7 days, despite being up 26.91% over the past 3 months. Meanwhile, TVL on BNB Chain is around $5.94 billion, and 24-hour DEX volume is approximately $670.9 million.
🔎 Scenario to watch: If BNB maintains a positive price structure and liquidity and on-chain activity remain strong, the token burn could reinforce long-term expectations. Conversely, if the price continues to weaken, reducing the supply may not be enough to reverse the trend.
💬 Do you think BNB is consolidating ahead of a new rally, or does it still need more confirmation signals?
#BNB