BNB Chain burns $1.2 billion, but can BNB price reclaim $750?

BNB Chain has completed its 37th quarterly token burn, removing 1,646,196.44 BNB worth approximately $1.197 billion as the cryptocurrency trades near $725 and continues struggling below key technical resistance. BNB Chain completed its 37th quarterly burn, permanently removing approximately 1.65 million BNB from circulation today. The burn's $1.197 billion valuation exceeded July's total, while the token quantity increased approximately 1.88%. BNB ranks fourth by market capitalization, trading near $725 despite continued weakness in technical momentum indicators. BNB's remaining supply stands near 131.51 million, leaving approximately 31.51 million tokens above its long-term target.

Source: crypto.news