$BNB, the native token of the $BNBChain, is up 0.72% in the last 24-hours to currently trade at $621 mark. The coin price gained its initial momentum from broader market uptick as the U.S. and Iran are in indirect talks to extend the two-week ceasefire. However, the $BNBprice gained an additional boost following the 35th quarterly token burn which incinerated 1.57 million $BNB(~$1 billion), directly reducing circulating supply and supporting price.
$BNBBurns $1.02B in 35th Quarterly Token Burn
On April 15, $BNBChain completed its 35th quarterly token burn, which permanently removed 1,569,307.34 $BNBout of circulation. The lost tokens were worth about $1.02 billion in the market during the operation.
The automatic process, based on on-chain transaction fees, decreased the overall $BNBsupply to 134,786,916.53. This is the second of these burns of 2026 and an extension of the fixed schedule of the protocol of contraction of supply.
Burn is done in a fully transparent formula-based Auto-Burn system that is pegged to $BNBprice and block production on the $BNBSmart Chain. Tokens sent to a dead address become unrecoverable, directly lowering available supply every three months. The precise figures are reported in official records without any further manual manipulations.
This action constitutes a part of $BNBcontinuous operation of reducing its maximum supply to a long-term goal of 100 million tokens. By shrinking available supply, the event creates a greater scarcity for existing holders. Over repeated cycles, the token buying mechanism could tighten market liquidity, often alternating trading dynamics, relative demand pressure, and network activity.
$BNBPrice Breaks Out of a Six-Month Bearish Pattern
Over the past six months, the $BNBprice witnessed a steady correction from the $1,375 to $570 support, accounting for a loss of 48%. Interestingly, the downtrend resonated strictly within two converging trendlines, which revealed the formation of a falling wedge channel pattern in the daily chart.
Typically, this chart pattern is marked as an end-of-correction setup as the converging nature of the dynamic resistance and support gradually weakens the bearish momentum in price. On April 7th, the coin price gave a decisive breakout from the pattern’s resistant trendline, as the de-escalating geopolitical tension bolstered market-wide recovery.
Last week, the $BNBprice retested the breached trendline as potential support to validate its sustainability for higher security. Following the quarterly burn and easing geopolitical tension, the $BNBprice has bounced to current trading value of $620.
With sustained buying, the coin price could drive a 11% surge and challenge the overhead horizontal resistance of $688, followed by a potential surge toward $800.
The Binance coin currently trades above the 20-day exponential moving average, accentuating the early positive change in market sentiment. However, the downsloping slope of 100-and-200-day EMA indicates the broader trend is bearish.
On the contrary note, if buyers face overhead supply at this EMAs or $0.687 resistance, the $BNBprice could prolong its sideways trend.