Binance Coin Rallies Over 3% After $1.69B Burn Event, Surpasses XRP in Valuation

BNB Rises 3% After $1.69B Token Burn, Reclaims Third Spot from XRP

BNB climbed 3% over the past 24 hours to $1,168, rebounding after a volatile week and overtaking XRP to once again become the third-largest cryptocurrency by market capitalization, excluding stablecoins.

According to data from CoinMarketCap, BNB’s market cap now stands at $161 billion, slightly ahead of XRP’s $157.6 billion.

The recovery followed the completion of BNB’s 33rd auto-burn, which permanently removed 1.44 million tokens—worth $1.69 billion—from circulation. The BNB Foundation said the latest burn, its largest ever in U.S. dollar terms, reduces total supply to just under 138 million as part of a long-term plan to eventually shrink the supply to 100 million.

The event reignited bullish sentiment after several sessions of weakness that had briefly pushed BNB below XRP in market rankings. BNB opened Monday at $1,134.46 and climbed steadily through the day as trading volume surpassed $10.17 million.

Still, analysts say the market remains cautious. While the burn provided near-term support, recent lower highs and failed breakouts suggest traders are waiting for confirmation before committing to new positions. CoinDesk Research’s data model notes that holding above $1,150 could help BNB stabilize and rebuild momentum.

The broader market also showed mild strength, with the CoinDesk 20 Index (CD20) up 1.15% over the same period, signaling a modest rebound across major digital assets.