BNB rose 0.4% over a 24-hour period to trade at $778.01, maintaining a position above the $770 level as attention focused on potential resistance near $800. Over the past month, the asset has gained 10%, drawing increased focus toward the upcoming 37th quarterly token burn anticipated during October.
The broader cryptocurrency market experienced a marginal drop over the same 24-hour window, with Bitcoin holding near $84,800, Ethereum trading at $2,681, and XRP at $1.49.
Upcoming Quarterly Token Burn
BNB Chain has not yet confirmed an exact date for the 37th quarterly burn, though it is expected around mid-October. The regular deflationary event permanently removes tokens from circulation through a predictable schedule.
In the previous 36th quarterly event on July 15, BNB Chain destroyed 1,615,827.8 tokens valued at approximately $932 million, leaving 133.17 million BNB outstanding and reducing the previous supply by about 1.2%. The auto-burn formula calculates the number of removed tokens based on BNB's price and quarterly block production, with a long-term goal of reducing the total supply to 100 million BNB.
Market analysts note that supply reduction alone does not guarantee an immediate price catalyst, as demand and broader market conditions continue to influence price direction.
Tokenized Stocks and ETFs Milestone
Data from Token Terminal indicates that BNB Chain has become the first blockchain network to exceed $1 billion in tokenized stocks and exchange-traded funds, reaching approximately $1.1 billion and capturing nearly 30% of the wider $3.7 billion sector.
Ethereum follows BNB Chain with $828 million in tokenized stocks and ETFs, while Solana records $738 million. BNB Chain's market share in this sector has more than doubled since January, when it stood at 13%.
Technical Outlook
BNB moved up from September lows near $710. Technical indicators show the relative strength index at 56.87, indicating a modest bullish bias while remaining below the overbought threshold of 70. The MACD line registered at 1.52, above the signal line at 0.89, with a positive histogram of 0.64.
On the charts, a sustained four-hour close above $790 could clear the path toward $800, with $820 serving as a subsequent upside target. Conversely, support near $770 remains critical, and a decisive close below that level could expose downside references near $755 to $760, followed by earlier trading levels around $740.
