Key Points
- BNB has completed its 33rd quarterly token burn, removing around 1.44 million BNB from circulation.
- The move has helped BNB reclaim the 4th largest spot by market capitalization, surpassing XRP.
BNB is in the limelight once more following its 33rd quarterly token burn. The event saw approximately 1.44 million BNB, equivalent to around $1.2 billion, taken out of circulation.
This action has allowed BNB, the token of the Binance ecosystem, to regain its position as the 4th largest by market capitalization. It managed to overtake XRP following a week of erratic trading.
Details of the 33rd Auto-Burn
The successful completion of the burn on the BNB Chain was confirmed by the BNB Foundation. The event was carried out according to the project’s standard Auto-Burn mechanism, a system that is transparent and independently verifiable. This mechanism aims to reduce the total supply of BNB towards its long-term target of 100 million tokens.
Following the burn, the total supply of BNB now stands at 137.73 million. This marks another step in the network’s deflationary design. The burn took place directly on the BNB Smart Chain (BSC), and the destroyed tokens were sent to the network’s “blackhole” address.
BNB Reclaims 4th Place
According to CoinGecko data, BNB’s price increased nearly 3% in the last 24 hours, driven by a 68% surge in trading volume. The token’s daily high reached $1,161.35 and was last trading around $1,157. This move pushed BNB’s market cap to $159 billion, surpassing XRP’s $157.5 billion.
Just a day before, BNB was in 5th place behind XRP. On October 26, XRP was slightly ahead at $158.7 billion, but shifting sentiment and whale selloffs flipped the rankings again.
According to Santiment, small retail wallets have shown signs of panic selling, while XRP whales dumped over 70 million tokens between October 23 and 25. This selling pressure contributed to XRP’s decline, allowing BNB to gain advantage.
The weekly BNB chart shows a strong uptrend intact, supported by a long-term ascending trendline stretching from early 2023. Prices recently bounced from the $900 support zone, reclaiming the mid-channel range.
BNB is now trading inside an upward channel, testing resistance near $1,250-$1,300, which has capped rallies in previous cycles. A breakout above $1,300 could open the door toward $1,450-$1,600. However, failure to hold above $1,100 could see BNB revisit $950-$900, where strong buying interest has previously emerged.
The RSI sits at 66, indicating that the token is approaching overbought levels. Meanwhile, the MACD remains in bullish territory. BNB remains the next best crypto to buy in 2025 as long as it remains above $1,100. But with resistance looming at $1,300, traders should proceed with caution.
