![BNB CHAIN Q1 Financials 2024 Soar over 70% from the Previous Quarter](https://image.coinpedia.org/wp-content/uploads/2024/04/04134813/BNB-CHAINs-Q1-2024-Financials-Soar-Over-70-from-Previous-Quarter-1.webp)
Binance Foundation completed the 27th BNB quarterly token burning by BNB Chain on April 24th. This process saw a total 1,944,452.51 BNB tokens burned, valued at $1.17 Billion.
You can also find out more about the following: Binance Burn The Auto-Burn Formula automates the process. It is carried out quarterly. This process has as its ultimate goal to bring the BNB token supply down to 100 million. The total BNB supply is currently 149,532,856 tokens.
BNB Price Impact on Binance:
You can also find out more about the following: BNB Coin Price The coin traded in a range of $278 to $345.5 from mid-February until now. This altcoin increased by approximately 110% as the volatility of the market grew. It was then rejected at $635. The price of the altcoin has traded in a range between $506.5 and $635 since then.
Positively, Binance Token The price of the Binance coin has increased by 11.43% in the last seven days, and 10,12% during the past thirty days. Binance’s Year-to Date (YTD), which stands at 94.58% indicates a bullish trend for its coin prices in the coming months.
MACD is a technical indicator that shows an increasing green histogram. This indicates increased pressure on the cryptomarket to buy. The averages also show a bullish trend, which indicates a good outlook for BNB’s price.
Did you know? BNB Price Turns Bullish! The Binance coin to hit $700 this month?
Binance Coin price to rise again?
By the weekend, if the bulls keep gaining strength, BNB’s price could reach its $635 resistance level. Binance will also try to reach its all-time highest (ATH) if it holds that price.
If a trend reverses, BNB will fall and test the $569.5 support level. If the bears dominate the market in the coming weeks, Binance will continue to fall and test the lower support level at $506.5.
You can also check out: Crypto market prediction for next week: what to expect from altcoins and Bitcoin
This writing was helpful.
You can also find out more about the No. You can say that.
Elena R.
Elena has a wealth of experience in the cryptocurrency industry, particularly in risk management and technical analysis. She is a journalist with 10+ years of experience.