BNB Cryptocurrency Skyrockets: Discover How a $1B Burn and Record DEX Volume Are Driving Prices Up!

BNB Chain recently hit a significant milestone by burning 1.59 million Binance (BNB) tokens, worth about $1 billion. This is just part of its strategy to reduce supply, which has seen over 30% of BNB taken out since 2022. Currently, there are around 139 million BNB tokens in circulation.

Despite this reduction, the relationship between token burns and price isn’t as straightforward as one might think. Initially, when burn rates exceeded $1 billion, BNB’s price doubled from $300 to $600. However, subsequent large burns didn’t produce the same price jumps. For instance, after a $1.02 billion burn in July 2025, BNB’s price remained relatively stable, even though that burn surpassed earlier amounts.

So, where is the demand for BNB coming from? Recent data from DeFiLlama shows that BNB Chain’s decentralized exchange (DEX) volume surged, peaking at $170 billion in June 2025. This activity has likely added pressure to the demand for BNB, alongside the supply cuts.

Currently, BNB trades around $692, a notable rise from its lows earlier in June. However, the derivatives market indicates a cautious sentiment. Analysts have noted increased demand for short-dated put options, suggesting some traders are betting on a downturn. The highest option volumes for puts sit around the $700 mark, indicating a key resistance level. If BNB can clear this level, the next bullish target could be $800.

Overall, the disinflation program and a surge in on-chain activity have positively influenced BNB’s price. Watch the $660, $700, and $800 levels closely for future movements.

For a deeper understanding of cryptocurrency trends, check out the latest reports from trusted sources like CoinDesk and Forbes’ cryptocurrency section.

Source link

ambcrypto