BNB Jumps Over 3% After $1.69B Token Burn, Overtakes XRP's Market Cap

The price of $BNB, the native token of the $BNB Chain, rose 3% in the past 24 hours, climbing to $1,168 after the completion a $1.69 billion token burn, the largest quarterly burn in U.S. dollar terms to date for the token.

The price recovery came after a volatile week marked by sharp selloffs, shifting technical trends, and a market capitalization shakeup that saw $BNB briefly lose its third place — excluding stablecoins — to $XRP after the latter’s outperformance.

The $BNB Foundation said it destroyed over 1.44 million $BNB tokens as part of its 33rd auto-burn, reducing the total supply to just under 138 million. The mechanism, designed to gradually bring supply down to 100 million, adjusts each quarter based on $BNB price and activity on the $BNB Chain.

The burn added some momentum to the price, enough to reverse the broader shift in crypto rankings. $XRP now holds a market cap of $157.6 billion, just behind $BNB’s $161 billion, per CoinMarketCap data.

Still, both of these tokens have been outperforming the wider cryptocurrency market, which as measured by the CoinDesk 20 (CD20) index rose 1.15% in the last 24-hour period.

$BNB’s price action showed strength after opening at $1,134.46, with steady gains through the early hours and volume hitting $10.17 million by late morning. Still, some traders remain wary. Recent sessions have included failed breakouts and lower highs, signs of short-term uncertainty despite the burn-driven bump.

If $BNB can hold above $1,150, it may stabilize, according to CoinDesk Research's technical analysis data model. But broader positioning now hinges on whether the token can reassert itself both technically and in investor sentiment.

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