In late October 2026, Binance Coin (BNB) was trading between $730 and $745, overshadowed by its recent token burn and a critical price zone near $750. Despite a reduction in supply bolstering the long-term deflationary outlook for BNB, no immediate price surge has materialized yet.
1.64 Million BNB Permanently Removed in Quarterly Burn
On October 19, BNB Chain completed its 37th quarterly automatic burn, permanently removing 1,646,196.44 BNB from circulation, equivalent to approximately $1.197 billion at the time of the announcement. The BNB Foundation reported that the total remaining supply dropped to 131,512,085 units. As the entity responsible for managing BNB’s supply policy, the Foundation clarified that the burn mechanism is aligned with the long-term plan to reduce the total supply to 100 million tokens.
BNB Chain’s 37th quarterly automatic burn permanently removed 1,646,196 BNB from circulation.
Variables such as BNB price and block production on BNB Smart Chain influence the burn calculations. The burned tokens are sent to an inaccessible address, essentially making them irretrievable. The sizable $1.2 billion valuation does not imply a new wave of buying or buybacks but reflects the token’s market value at the time of burning. Compared to the July burn, the number of tokens removed increased by approximately 1.9%, while the dollar value surged by 28.5%.
Market Eyes $750 Level for Short-Term Direction
Market strategist Alex Marzell views the $750 region as a pivotal zone for determining BNB’s next move. Should BNB breach this threshold, a rally toward previous peaks could gain momentum. However, Marzell cautions that a persistent uptick in buying interest and sustained volume is necessary for a meaningful breakthrough.
Alex Marzell identifies the $750 area as a key zone for either breaking out or pulling back for BNB.
As of October 22, technical indicators recorded a nearby resistance at $752.78 and support at $722.52, with the daily relative strength index remaining at 45. This suggests a lack of strong affirmative momentum for a potentially upward trend.
Potential Support Lies Between $680 and $695
Analyst TokenTalk3x sees the range of $680 to $695 as a potential re-entry point for buyers should BNB retrace from its current levels. This spectrum is not viewed as a definite floor but rather an area where demand might be retested.
In alignment with this assessment, the formation of a Change of Character (CHoCH) pattern indicates that if the price reacts robustly from this range, a renewed ascent toward $850 could be plausible. Conversely, a sustained dip below $700 could elevate the risk of a deeper correction. TradingView contributor AnhbaCong_ points out that a head and shoulders reversal pattern on the daily chart might suggest a dip below $700, potentially bringing the $600 zone into play.
