Binance Burns $1 Billion Worth of BNB – How High Can BNB Go Next?

Binance BNB Chain Binance burns 1.59 million BNB tokens in 32nd quarterly burn event reducing supply to 139.28M as whales accumulate targeting $733 breakout. Crypto Journalist Anas Hassan Crypto Journalist Anas Hassan About Author Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech. Author Profile Share Copied Last updated: July 10, 2025 Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews Binance, through the BNB Foundation, has successfully completed the 32nd quarterly token burn event for the BNB cryptocurrency. The burn operation took place precisely at 07:29:06 AM UTC on July 10, eliminating 1,595,599.78 BNB tokens from circulation, valued at approximately $1.07 million based on an average BNB price of $660.16. Remarkably, despite the substantial volume of tokens burned, the transaction fee amounted to merely 0.0000021 BNB (equivalent to $0.001411). BNB token Auto-Burn Algorithm Destroys $1.02B Quarterly: How It Works. The quarterly BNB burn mechanism operates on a regular schedule, with the previous burn event occurring in April when tokens valued at over $1.02 billion were permanently removed from the supply. The traditional manual burn process has been superseded by the BNB Auto-Burn system, which determines burn amounts based on BNB’s market price and the quantity of blocks generated during each quarter. This automated... https://cryptonews.com/news/binance-burns-1-59-million-bnb-tokens-in-32nd-quarterly-burn-event-700-breakout-next/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple