TLDR
- BNB price reached $672.49, climbing 1.26% in 24 hours after breaking past $666 resistance
- Whale wallets control over 99.9% of BNB supply, showing increased accumulation during consolidation
- Daily active addresses on BNB Chain hit 1.75 million, indicating growing network usage
- BNB Chain completed its 32nd quarterly burn, removing 1,595,599.78 BNB worth $1.024 billion
- Technical analysis shows ascending triangle pattern with $733 price target
Binance Coin (BNB) price climbed to $672.49 in recent trading, marking a 1.26% gain over the past 24 hours. The cryptocurrency broke through a key resistance level at $666, establishing new short-term support near $640.
Trading volume surged past $899 million during the rally. Hourly candles turned green across multiple sessions as buyers pushed the price higher.
Technical analysts identified an ascending triangle formation on the daily chart. This pattern suggests building pressure that could lead to further upward movement.
The Relative Strength Index (RSI) reached 59.91, reflecting improving market sentiment. BNB has been making higher lows, converging toward a breakout zone.
Whale Activity Intensifies
On-chain data from Glassnode reveals that the top 1% of BNB addresses control more than 99.9% of the circulating supply. This concentration has increased during recent periods of price consolidation.
Large holders appear to be quietly accumulating BNB during flat trading phases. Historical patterns show this type of accumulation often occurs before sustained price movements.
Network activity on the BNB Chain continues to rise. Daily active addresses recently reached 1.75 million users.
This increase points to steady demand for the token’s utility across decentralized finance applications. Staking and blockchain-based applications are also driving user participation.
Major Supply Reduction Through Token Burn
The BNB Foundation completed its 32nd quarterly token burn on July 11, 2025. The burn removed 1,595,599.78 BNB from circulation, valued at approximately $1.024 billion.
This included 129.10 BNB from the Pioneer Burn program. The action brings the remaining total supply down to 139,289,513.94 BNB.
The Auto-Burn system is designed to gradually decrease BNB’s total supply to 100,000,000 tokens. Adjustments are based on BNB’s price and the number of blocks generated on BSC each quarter.
Since the introduction of BEP95, the real-time burning mechanism has eliminated approximately 265,000 BNB. BSC validators determine the ratio of gas fees collected in each block, which are then burned at a fixed rate.
Trading interest has remained elevated following the breakout above $666. Analysts are watching whether BNB can maintain this level as support.
The next zone of resistance is projected between $688 and $700. With the circulating supply fixed at 145.8 million tokens, sustained demand may continue supporting upward price movement.
Analyst Gustavo Maldonado confirmed the breakout from the ascending triangle formation. The technical target for this pattern points to $733.
The combination of rising volume and strong price movement suggests market conviction behind the trend. BNB’s price structure now reflects potential for bullish continuation as the ascending triangle nears resolution.
The post Binance Coin (BNB) Price: Token Reaches $672 Following $1 Billion Quarterly Burn appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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