BNB Nears $700 on Back of Massive $1B Burn and Growing Corporate Treasury Interest

BNB Nears $700 as $1 Billion Token Burn and Corporate Treasury Demand Boost Momentum

BNB is edging closer to the $700 level amid a broad crypto market rally and a substantial $1 billion token burn that has energized traders.

Over the last 24 hours, BNB climbed roughly 2.8%, rising from $670.40 to $688.70. This price move accompanied a strong upswing in the wider cryptocurrency market, with Bitcoin hitting a new all-time high above $118,000.

BNB’s price briefly surged to an intraday high near $695 before settling into a tight range around $689.

This price increase was driven not only by overall market strength but also by Binance’s 32nd quarterly token burn, which permanently removed about 1.59 million BNB tokens from circulation—totaling 265,605 BNB burned so far, according to tracking data. This deflationary measure aims to reduce BNB’s total supply to 100 million tokens.

Institutional interest is also rising, with more than 30 teams reportedly working on structuring corporate treasury reserves using BNB. Investment firm 10X Capital is supporting a $500 million U.S.-listed BNB treasury vehicle.

On-chain data shows active addresses on the BNB Chain have doubled since March to about 2.5 million daily, while average daily transaction volumes have tripled, per Nansen.

Investors are now focused on whether BNB can break through the psychological $700 resistance level in the near term.

Technical Highlights:

BNB gained 2.77% in 24 hours, showing solid upward momentum, according to CoinDesk Research’s technical analysis.
Price traded within a range of $27.51 (4.11%), from $667.61 to $695.12.
Trading volume surged to 155,426 tokens at yesterday’s close—more than double the 24-hour average of 64,169.
Resistance was found near $695.12, with support established around $667.61.
After the rally, prices consolidated in a narrow $1.51 band between $688.81 and $690.73.
Strong support formed near $688.80–$689.00.
The market briefly tested resistance at $690.73 before a measured pullback.

With the combined effect of the token burn and growing institutional demand, BNB looks well-positioned to attempt a push above $700 soon.