BNB is about to rise to $700!
The 27th quarterly BNB token burn of the BNB chain was completed on April 24. During this process, a total of 1,944,452.51 BNB tokens were destroyed, which were worth about $1.17 billion at the time of destruction.
Binance burn is a quarterly process and is done automatically with the help of an auto-burn formula. The ultimate goal of this process is to reduce the total supply of BNB tokens to 100 million. Currently, the total supply of BNB tokens is 149,532,856.
The BNB token price is showing a neutral trend and is trading in the range of $278 to $345.5.
As volatility increased in the market, the altcoin rose by about 110% before being rejected at the price of $635.
Since then, the price has been trading in a comprehensive range between $506.5 and $635.
It has risen by 11.43% in the past 7 days and 10.12% in the past 30 days. Moreover, its year-to-date (YTD) is 94.58%, indicating a strong bullish price trend for Binance Coin price in the coming months.
If the bulls continue to maintain their momentum, the BNB token price will test the $635 resistance level in the coming weekend.
Moreover, if the market maintains the price at this level, Binance Coin will try to test its previous all-time high (ATH) of $690.9.
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