BNB’s burn is done, bullish signals are flashing, and a higher high is near | | Credit: Derek Fenech
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Key Takeaways
Despite the recent burn, BNB’s price has only seen modest gains, trading around $670
Over 429,000 BNB exited centralized exchanges, indicating reduced sell pressure.
If BNB’s price breaks the $685 resistance, it could surge toward $727 or even higher.
BNB price is gearing up for a potential breakout, with several indicators suggesting a move beyond $700.
This comes after the BNB Chain Foundation announced that it has completed its 32nd quarterly token burn — a deflationary event typically expected to tighten supply.
However, the market reaction has been muted so far. Despite the burn, BNB’s price has notched a modest gain over the past 24 hours.
Still, technical signals remain optimistic. With the cryptocurrency holding steady and market sentiment gradually shifting, this analysis reveals that the price could trade higher. Here are the key price levels to watch.
BNB Supply and Exchange Inflow Drops
At press time, BNB is trading at $670 as the market absorbs fresh news from the BNB Chain Foundation. Earlier today, the Foundation announced it had completed its 32nd quarterly burn, removing 1,595,599.78 BNB from circulation — a move valued in the hundreds of millions.
The deflationary event, aimed at reducing supply and boosting long-term value, has yet to spark a significant price rally.
However, with BNB maintaining strength just below the $700 threshold, bulls remain hopeful that the burn could set the stage for a breakout in the coming days.
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On-chain data from Glassnode reveals a shift in investor behavior, with 429,383 BNB leaving centralized exchanges.
A negative netflow signals that fewer tokens are being moved to exchanges — a sign that holders are opting to keep their assets off-market rather than preparing to sell.
This contrasts a positive netflow, which reflects growing sell pressure. Therefore, this decline suggests growing confidence and supports a bullish outlook for BNB’s price.
BNB Exchange Net Position Change | Credit: Glassnode
The cryptocurrency’s value will likely break above $700 if this trend continues. However, this will only happen if demand for BNB increases and indicators align for the move.
BNB Price Prediction: Higher Values
From a technical point of view, BNB’s price is on the verge of breaking above the resistance at $685. The Chaikin Money Flow (CMF) has risen above the zero signal line.
In line with the CMF signal, the Relative Strength Index (RSI) has seen its reading rise, indicating bullish momentum around the cryptocurrency.
If validated, the cryptocurrency’s price might climb to $727. Should this be the case, BNB’s price will likely rise to $750, possibly reaching a new all-time high.
However, traders need to watch out. If the CMF and RSI readings decline, this prediction might not happen.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
