BNB Heads for $700 Following $1 Billion Burn and Corporate Treasury Initiatives

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

BNB is edging closer to the $700 level, driven by a broad cryptocurrency market rally and a significant $1 billion token burn that has heightened investor interest.

Over the past 24 hours, BNB surged roughly 2.8%, climbing from $670.40 to $688.70. This upward momentum aligns with the broader market’s strength, highlighted by Bitcoin hitting a fresh all-time high above $118,000.

The token reached an intraday peak near $695 before settling into a tight trading range around $689.

This rally is supported not only by overall market trends but also by Binance’s 32nd quarterly token burn, which permanently removed about 1.59 million BNB tokens from circulation—bringing the total burned to 265,605 BNB. This ongoing deflationary strategy aims to reduce the total supply to 100 million tokens.

Adding to the bullish outlook, over 30 teams are reportedly exploring ways to adopt BNB as part of corporate treasury reserves. Investment firm 10X Capital is backing plans for a $500 million U.S.-listed BNB treasury vehicle.

According to Nansen data, daily active addresses on the BNB Chain have doubled since March, now hovering around 2.5 million, while average daily transaction volumes have tripled.

Traders are now watching to see if BNB can break through the psychological $700 resistance in the near term.

Technical Highlights:

• BNB gained 2.77% over the last 24 hours, signaling strong buying interest, per CoinDesk Research’s technical analysis.
• The price moved within a $27.51 range (4.11%) between $667.61 and $695.12.
• Trading volume surged to 155,426 tokens at market close, more than double the 24-hour average of 64,169.
• Resistance is identified near $695.12, while support has formed around $667.61.
• Following the initial rally, prices consolidated in a tight $1.51 range between $688.81 and $690.73.
• Solid support holds in the $688.80 to $689.00 zone.
• The price tested resistance at $690.73 before a controlled pullback.

With the combination of the token burn and growing corporate treasury adoption, BNB appears well-positioned to challenge the $700 mark soon.