BNB Chain: Burns $1.2B in 37th Quarterly Token Burn
CZ Binance noted BNB Chain completed its 37th quarterly burn, destroying 1.64 million BNB tokens valued at $1.197 billion directly on BSC.
SourceAnalysis
BNB Chain executed its 37th quarterly token burn on BSC, incinerating 1.64 million BNB worth $1.197 billion as highlighted by CZ Binance.
BNB trades at $727.03 inside the Bollinger Bands on the 4h chart, with price pressing the upper band resistance at $732.45 while the lower band sits at $710.45. The structure remains bearish as price holds below EMA50 at $731.44 and EMA200 at $744.06, yet the MACD golden cross at -2.14 indicates rising momentum and RSI at 52.08 stays neutral, pointing to a likely probe of upper band resistance before any deeper pullback to EMA50 support.
CZ_BNB
@cz_binanceFounder and former CEO of Binance, the world's largest cryptocurrency exchange. Shares insights on cryptocurrency adoption, blockchain technology development, and personal perspectives on building in the Web3 space, while navigating regulatory challenges and industry evolution.