• BNB Price Prediction suggests resistance at $700, with a $650 support level likely to be tested.
• Recent burn removed 1.63M BNB worth $1.16B, reducing supply and supporting future price growth.
• BNB’s RSI at 46.58 and bearish MACD trend indicate short-term downside before recovery.

BNB, the official token of Binance’s BNB Chain, faces stiff resistance at $700. At the time of writing, it is trading at $686.45, marking a 2% drop over the past 24 hours, according to CoinMarketCap. Despite the dip, the altcoin is expected to turn bullish, citing the recent 30th quarterly BNB token burn as a possible catalyst for upward movement.

BNB Chain announced in a blog post that 1,634,200.95 BNB tokens, worth approximately $1.16 billion, were removed from circulation. This included 1,524,200.95 BNB in actual burns and 110,000 BNB burned under the Pioneer Burn program.

Additionally, BNB Beacon Chain validators contributed to the Pioneer Burn by leaving 110,000 self-staked BNB tokens on the Beacon Chain. The network aims to reduce the total token supply to 100 million BNB, with 42,465,780.15 BNB still scheduled for burning.

Related: Trump Family Crypto Project Acquire…

The post BNB Price Prediction for January 24: Can the Recent Token Burn Lift BNB Above $700? appeared first on Coin Edition.

• BNB Price Prediction suggests resistance at $700, with a $650 support level likely to be tested.
• Recent burn removed 1.63M BNB worth $1.16B, reducing supply and supporting future price growth.
• BNB’s RSI at 46.58 and bearish MACD trend indicate short-term downside before recovery.

BNB, the official token of Binance’s BNB Chain, faces stiff resistance at $700. At the time of writing, it is trading at $686.45, marking a 2% drop over the past 24 hours, according to CoinMarketCap. Despite the dip, the altcoin is expected to turn bullish, citing the recent 30th quarterly BNB token burn as a possible catalyst for upward movement.

BNB Chain announced in a blog post that 1,634,200.95 BNB tokens, worth approximately $1.16 billion, were removed from circulation. This included 1,524,200.95 BNB in actual burns and 110,000 BNB burned under the Pioneer Burn program.

Additionally, BNB Beacon Chain validators contributed to the Pioneer Burn by leaving 110,000 self-staked BNB tokens on the Beacon Chain. The network aims to reduce the total token supply to 100 million BNB, with 42,465,780.15 BNB still scheduled for burning.

Related: Trump Family Crypto Project Acquire…

The post BNB Price Prediction for January 24: Can the Recent Token Burn Lift BNB Above $700? appeared first on Coin Edition.