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 <p class="paragraph">The BNB Foundation has successfully completed its 27th quarterly <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> burn, removing approximately 1.944 million BNB <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s from circulation, valued at nearly $1.17 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>.</p>
 <p class="paragraph">This burn is a critical part of a broader strategy to enhance token scarcity and value, raising questions about the future pricing and stability of this key cryptocurrency.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">The 27th quarterly $BNB token burn has been completed directly on BNB Smart Chain (BSC) during the ongoing BNB Chain Fusion.<br><br>1.94M #BNB has been burned <br><br>View burn details ️ https://t.co/N2pp3Lu5Sf pic.twitter.com/S9Jrm5eUdL</p>— BNB Chain (@BNBCHAIN) April 24, 2024
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 <p class="paragraph">BNB powers the BNB Chain ecosystem, acting as both a utility and governance token across various platforms, including the BNB Smart Chain , BNB L2 solutions, and BNB Greenfield. Its utility extends to enabling transactions and interactions with numerous projects built on these chains, further embedding BNB’s role within the blockchain infrastructure.</p>
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 <p class="paragraph">Launched in 2017, BNB came with a commitment to halve its total supply to 100 million <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s through a systematic burning process. This mechanism aims to enhance the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>’s long-term value and scarcity and operates independently of Binance‘s centralized exchange via an auto-burn formula.</p>
 <p class="paragraph">This formula objectively determines the quantity of BNB to destroy each quarter, ensuring transparency and auditability.</p>
 <h2 class="wp-block-heading" id="h-current-burn-dynamics">Current burn dynamics</h2>
 <p class="paragraph">This quarter’s token burn was unique as it was conducted directly on the BNB Smart Chain in line with the BNB Chain Fusion project. The burned tokens were transferred to a “blackhole” address, permanently removing them from circulation.</p>
 <p class="paragraph">This burn did not include any <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s from the Pioneer Burn Program, which is another mechanism that removes BNB equivalent to the provable lost funds of eligible users on the BNB Chain.</p>
 <p class="paragraph">Furthermore, the BNB Chain enhances its burn mechanisms through the Real-Time-Burn of gas fees, which contributes to the token’s deflationary mechanism by reducing the supply incrementally and continuously.</p>
 <h2 class="wp-block-heading" id="h-bnb-price-analysis">BNB price analysis</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="415" src="https://cdn.thebittimes.com/images/2024/04/24/c71632d674e689c6b35c2768f57bfcd4.webp" alt class="wp-image-171493" srcset="https://cdn.thebittimes.com/images/2024/04/24/c71632d674e689c6b35c2768f57bfcd4.webp 1024w, https://cdn.thebittimes.com/images/2024/04/24/c71632d674e689c6b35c2768f57bfcd4.webp 300w, https://cdn.thebittimes.com/images/2024/04/24/c71632d674e689c6b35c2768f57bfcd4.webp 768w, https://cdn.thebittimes.com/images/2024/04/24/c71632d674e689c6b35c2768f57bfcd4.webp 1536w, https://cdn.thebittimes.com/images/2024/04/24/c71632d674e689c6b35c2768f57bfcd4.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>BNBUSD 1month chart. Source.TradingView</em> <br>
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 <p class="paragraph">At the moment, the $BNB coin is changing hands at approximately $600, showing a 1.4 % decrease in the last 24 hours.</p>
 <p class="paragraph">Throughout April 2024, BNB/USD demonstrated significant volatility, evident from a high of $626.98 and a low of $514.11, reflecting substantial intraday and interday <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> swings. The resistance level appears around $610, which was tested multiple times during the month, notably peaking near $617.47.</p>
 <p class="paragraph">As BNB continues to reinforce its role within its native ecosystem and the broader market, the ongoing strategy to diminish its supply through strategic burns will likely remain a key factor in its valuation and investor interest.&nbsp;</p>
 <p class="paragraph">Stakeholders across the crypto-economy are closely monitoring these developments for their implications on BNB’s price and market stability.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bnb-price-prediction-amid-1-billion-token-burn-tbt86413.html">https://thebittimes.com/bnb-price-prediction-amid-1-billion-token-burn-tbt86413.html</a></p>

BNB price prediction amid $1 billion token burn

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