BNB Jumps Over 3% After $1.69B Token Burn, Overtakes XRP's Market Cap
BNB's price rose 3% to $1,168 following a $1.69 billion token burn, allowing it to reclaim the third spot by market cap over XRP.Summary
The price of BNB, the native token of the BNB Chain, increased by 3% to $1,168 after the completion of its 33rd auto-burn, which destroyed over 1.44 million tokens valued at $1.69 billion—the largest quarterly burn in U.S. dollar terms to date. This price recovery helped BNB reverse a recent market capitalization shakeup where it briefly lost its third-place ranking (excluding stablecoins) to XRP. Following the burn, BNB's market cap stood at $161 billion, slightly ahead of XRP's $157.6 billion. The burn mechanism is designed to gradually reduce the total supply toward 100 million tokens, adjusting quarterly based on BNB's price and network activity. While BNB showed strength, some traders remain cautious due to recent failed breakouts, and its stabilization may depend on holding above the $1,150 level.
(Source：CoinDesk)