CryptoSignals News
Join our Telegram

Binance Coin Surges, Ahead of Its 15th Token-Burning Event

Estimated Reading Time: 3 minutes

Article Rating:
Based on 1 vote
Login to rate this article.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Binance Coin Surges, Ahead of Its 15th Token-Burning Event

It has been an unprecedented week for Binance Coin (BNB), as BNB investors win big. At press time, the third-largest cryptocurrency is trading up by 10% on the day and has broken a new record at $586. Binance Coin has gained more than 70% over the past seven days. Today’s rally brings the cryptocurrency’s year-to-date return to a whopping 1600%.

The recent surge in BNB price got triggered by the company’s upcoming token burning event. Binance CEO Changpeng Zhao announced via Twitter some hours ago, noting that it was the 15th burning event since the creation of BNB.

The Binance ecosystem and the Binance Smart Chain have continued to break new records every day for a long while now. The BNB has also rapidly been closing the gap on the second-largest cryptocurrency, Ethereum, since the beginning of the year.

Last week, Binance announced that the BSC hit a massive milestone after recording 5 million transactions in a day, 4x that of Ethereum. The low gas fees and lesser network congestion on Binance’s network have caused many projects to move their base from ERC20 to BSC. That said, the total value of assets locked in the BSC is now over $30 billion.

Key BNB Levels to Watch — April 12
Binance Coin is currently on a bullish roll, with no signs of a slowdown soon. With its current trajectory, we expect the cryptocurrency to break the $600 round figure over the coming hours. That said, any decline from its current level will get perceived as a dip-buying opportunity, which would propel the cryptocurrency higher.

BNBUSD – 4-Hour Chart

The BNB should be in overheat mode at the moment, as it is now well in overbought conditions on our 4-hour MACD indicator.

Meanwhile, our resistance levels are $600, $650, and $700, and our support levels are $550, $500, and $450.

Total Market Capitalization: $2.1 trillion

Binance Coin Market Capitalization: $94 billion

Binance Coin Dominance: 4.4%

 

Note: cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Recent News

April 02, 2025

EOS Market (EOS/USD) Gains Momentum but Needs Stronger Support

Bullish sentiment is gaining momentum in the EOS market as the price, after a period of consolidation near the $0.50 level, has broken out with strong upward movement. This surge, driven by increasing buying pressure, has propelled the price toward the $1.00 threshold. As bullish momentum strengthe...
Read More

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

arrow Join our free telegram