BNB Burns $1.2B Tokens, Reclaims 4th Place from XRP

BNB has completed its 33rd quarterly token burn, removing 1.44 million BNB (approximately $1.2 billion) from circulation.

This action helped BNB reclaim the 4th largest market capitalization spot, surpassing XRP after volatile trading.
The burn was executed on the BNB Smart Chain, reducing BNB’s total supply to 137.73 million tokens, aligning with its deflationary target of 100 million.
Recent network upgrades resulted in faster block production, prompting an adjustment in the Auto-Burn formula.
Since the implementation of BEP-95, over 276,000 BNB have been eliminated due to gas fees.

Market Impact:

BNB saw a nearly 3% price increase within 24 hours, with trading volume up by 68%.
It reached a daily high of $1,161.35, with a market cap of $159 billion, overtaking XRP's $157.5 billion.
XRP whales sold over 70 million tokens recently, contributing to its decline and BNB's rise.

Price Analysis:

BNB is in a strong uptrend, supported by a long-term ascending trendline.
Currently testing resistance near $1,250-$1,300; a breakout could lead to $1,450-$1,600.
If it falls below $1,100, support may be found at $950-$900.
The RSI is at 66, indicating approaching overbought levels, while MACD remains bullish.