BNB Rebounds 3% After $1.69B Token Burn, Regains Edge Over XRP
BNB has regained its lead over XRP in market capitalization after a major token burn lifted prices and renewed investor confidence.
The BNB Chain’s native token rose 3% in the past 24 hours to $1,168, recovering from a turbulent week that briefly saw XRP surpass it in market rankings. According to CoinMarketCap, BNB’s market capitalization now stands at $161 billion, compared with XRP’s $157.6 billion.
The rally followed the completion of BNB’s 33rd quarterly auto-burn, its largest ever in U.S. dollar terms. The BNB Foundation said it destroyed 1.44 million BNB tokens, valued at $1.69 billion, bringing total circulating supply down to just under 138 million. The burn mechanism, designed to gradually reduce supply to 100 million tokens, adjusts each quarter based on token price and network activity.
The event injected fresh momentum into BNB after weeks of uneven performance across major cryptocurrencies. BNB opened at $1,134.46 and advanced steadily through the session, with trading volumes topping $10.17 million.
Still, analysts noted lingering caution among traders. “While the burn supports long-term value, recent failed breakouts suggest the market is not yet fully convinced of a sustained uptrend,” said CoinDesk Research analysts. Technical models indicate that holding above $1,150 could allow BNB to consolidate before its next directional move.
Across broader markets, sentiment remained mildly positive. The CoinDesk 20 Index (CD20) gained 1.15% over the same period, signaling a measured recovery among large-cap digital assets.
