$1.69B Burn Sends BNB Up 3%, Pushing It Ahead of XRP by Market Cap

BNB Climbs 3% After $1.69B Burn, Reclaims Lead Over XRP

BNB rallied over 3% in the past 24 hours to $1,168, reclaiming its position ahead of XRP in market capitalization following a massive $1.69 billion token burn, the largest in its history.

According to CoinMarketCap, BNB’s market cap now stands at $161 billion, compared with XRP’s $157.6 billion. The price recovery follows a volatile week during which XRP briefly overtook BNB amid sharp swings in the broader market.

The BNB Foundation said it destroyed 1.44 million tokens in its 33rd quarterly auto-burn, reducing total supply to just under 138 million. The mechanism, which adjusts each quarter based on network activity and price, aims to eventually bring supply down to 100 million BNB.

Despite the rebound, analysts remain cautious. Technical indicators suggest that holding above $1,150 could help BNB stabilize after recent failed breakouts. Meanwhile, the broader CoinDesk 20 Index gained 1.15% in the same period, reflecting modest optimism across major cryptocurrencies.