$1.2B BNB Burned, Replacing XRP at 4th Spot Again: $1,500 Next?

Core Insights - BNB has regained its position as the 4th largest cryptocurrency by market capitalization after completing its 33rd quarterly token burn, removing 1.44 million BNB (approximately $1.2 billion) from circulation [1][5] Token Burn Details - The BNB Foundation confirmed the successful completion of the burn on the BNB Chain, following the standard Auto-Burn mechanism, which aims to reduce the total BNB supply towards a long-term target of 100 million tokens. Post-burn, the total supply of BNB is now 137.73 million [2] - The burn occurred directly on the BNB Smart Chain (BSC), with the destroyed tokens sent to the "blackhole" address, "0x000000000000000000000000000000000000dEaD." Recent upgrades have led to faster block production on BSC, resulting in an adjustment in the Auto-Burn formula [3] Market Performance - BNB's price increased nearly 3% in the last 24 hours, driven by a 68% spike in trading volume, reaching a daily high of $1,161.35 and a market cap of $159 billion, surpassing XRP's $157.5 billion [5] - The previous day, BNB was in 5th place behind XRP, which was slightly ahead at $158.7 billion. Shifting sentiment and whale selloffs contributed to BNB's rise [5][6] Price Analysis - The weekly BNB chart indicates a strong uptrend, supported by a long-term ascending trendline from early 2023. BNB recently bounced from the $900 support zone and is testing resistance near $1,250-$1,300, with a potential breakout above $1,300 opening the door to $1,450-$1,600 [7] - However, if BNB fails to hold above $1,100, it may revisit the $950-$900 range, where strong buying interest has previously emerged [8]