BNB Open Interest Crosses $780M After $1 Billion Token Burn: What Follows?
The post BNB Open Interest Crosses $780M After $1 Billion Token Burn: What Follows? appeared on BitcoinEthereumNews.com.
Key Notes Token burn permanently removes 1.6 million BNB tokens worth over $1 billion from circulating supply of 139.29 million. Derivatives trading volume jumped 33.94% to $613.7 million with long-to-short ratios favoring bullish sentiment. Technical analysis shows BNB above all major moving averages with MACD crossover supporting potential breakout to $700-720 range. BNB Chain confirmed the completion of its 32nd quarterly burn event, permanently removing 1,595,599.78 BNB from circulation, worth just over $1 billion at current prices. With BNB circulating supply now cut to 139.29 million BNB, bull traders could capitalize on the deflationary pressure to drive prices above the $700 mark. At press time on Thursday, July 10, BNB BNB $668.4 24h volatility: 0.8% Market cap: $97.51 B Vol. 24h: $1.07 B price surged above the $670 mark, reflecting nearly 2% gains within 24 hours of the token burn announcement. The 32nd quarterly $BNB token burn has been completed directly on BNB Smart Chain (BSC). 1,595,599.78 BNB has been burned. 🔥 View burn details 👇https://t.co/Zpd8EXfHPE pic.twitter.com/2Ls3peqwyj — BNB Chain (@BNBCHAIN) July 10, 2025 Historically, BNB price tends to respond positively to major token burns. In addition to the initial bullish price reaction, key trading metrics in the BNB derivatives markets further affirm this optimistic narrative. Derivatives Markets Show Renewed Capital Inflows BNB derivatives trading saw a sharp resurgence on Thursday, with daily volume climbing 33.94% to reach $613.7 million. Open interest also rose 1.34% to $781.5 million, signaling a clear return of capital into leveraged markets. BNB Derivatives Markets Analysis | Source: Coinglass, July 10, 2025 More so, BNB long-to-short ratio across major exchanges reflects a clear bullish bias. On Binance, the ratio of long to short accounts stood at 1.3776, while OKX reported a similar positive outlook at 1.15. Among top traders on Binance, the long-to-short account ratio…
Filed under: News - @ July 10, 2025 8:29 pm