BNB Price News: $1.3Bn Token Burn Could Push BNB Back to $1K

BNB (BNB) has been one of the laggards this year among the top 5 coins, as it has gained only 9% in 2026 compared to 12% and 15% earned by ETH and SOL, respectively, during this same period.

However, the BNB Chain team announced today that they executed their 34th token burn, with a total of 1.37 billion tokens taken out of circulation. This burn was worth $1.3 billion at today’s prices, corresponding to around 1% of the asset’s circulating supply.

The last bull market token burn took place on July 10. Back then, a similar $1 billion was burned permanently. What happened next? The price rallied from $685 to $844 in just a few days.

Binance’s 34th Token Burn – Source: BNB Chain Website

Token burns could be powerful catalysts during bull markets as they trigger some FOMO among retail investors who see it as a potential buy signal.

We could say we are in a bull market already, judging by how the price action has behaved lately, as BNB broke its bearish price structure.

That said, we are still not seeing any signs of FOMO or unjustified euphoria. So, the jury is still out on this one.

Transaction volumes have been a bit flat in the past few weeks, according to on-chain data from Artemis. The same goes for trading volumes for BNB Coin. However, it is worth remembering that BNB was one of the few tokens to make a new all-time high, alongside ETH, during the latest bullish cycle for altcoins.

BNB Hits Key Resistance at $935 – Make or Break Moment?

The daily chart shows that BNB broke above the $935 resistance. This is an important buy signal for multiple reasons. First, it means that BNB has stepped out of consolidation after jumping above the $825 support.

BNB/USD Daily Chart (Binance) – Source: TradingView

The price has also climbed above the 200-day exponential moving average (EMA), favoring a bullish mid-term outlook.

Moreover, BNB has invalidated its bearish price structure and seems to be forming the first leg of an uptrend in this higher time frame.

The Relative Strength Index (RSI) has been on an uptrend for a while now, indicating that momentum is on the side of bulls. As long as the RSI stays above the 14-day moving average, this would support a positive outlook for BNB.

We could expect some sort of accumulation between $900 and $950 for a while before the next leg up commences. When that happens, the most likely target would be $1,090, meaning an upside potential of around 16%.

Lower Time Frames Confirm Ongoing Consolidation

Heading to a lower time frame, we are seeing signs of accumulation rather than rejection as BTC hits $935.

BNB/USD Hourly Chart (Binance) – Source: TradingView

A symmetrical triangle has formed as a result of the latest price action. This is typically an indication that the market is converging toward a certain level.

These triangle patterns don’t have a clear bias. Traders have to wait until the price moves decisively in any direction to confirm if this will be a bullish or bearish accumulation setup.

If BNB breaks below the lower bound, the odds favor a move to the low 900s in the near term. In contrast, if we get a bullish breakout, the stage would be set for that jump to $1,090 in the next few days.