For the past 2 or 3 days, BNB has been a bullish trend and breaking its own records time and again. Today at around 14:30 hours GMT +2, BNB recorded a new all time of 400.500 USD. However, upon reaching the mark, BNB corrected and fell to 394.6717 USD the price it was trading at the time of writing this publication (14:35 hours GMT+2). Is the new stumbling block for BNB or it was just a normal correction to gain momentum to shoot to the moon?
BNB remains on rank #3 of the CoinMarketCap with a market of $60,977,829,268.62 which grew by about 7.81% in the past 24 hours. There are currently 154,532,785 BNB circulating on the market out of the 170,532,785 BNB maximum supply. This means that about 91% of BNB is in circulation with only about 9% remaining. BNB is about to become more scarce and likely to pick the price high and higher.
Also, the next BNB burn is likely be announced soon hence reducing the circulating BNB in the market hence increasing the scarcity of coin. The last burn which was the 14th quarterly BNB Burn (October - December 2020), we saw Binance burning a total of 3,619,888 BNB, equivalent to $165,791,000 USD worth of tokens. This was the biggest burn in the history of BNB.
I anticipate the 15th quarterly (January - March) burn to be announced sometimes in April and be bigger than the 14th burn.
Lets wait and see what Binance has in store for us in April!
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