How has BNB responded to Binance’s 25th token burn

Binance completed its 25th quarterly Binance Coin (BNB) burn, removing 2.14 million BNB coins from circulation on 16 October.

On 16 October, leading cryptocurrency exchange Binance removed over 2 million BNB coins from circulation at its quarterly coin burn event.burn, removing 2.14 million BNB coins from circulation on 16 October. The burned tokens were worth approximately $450 million at the time of the event.Binance’s quarterly coin burns are part of the entity’s commitment to ensure BNB’s deflationary model, thereby preserving its value over time.At press time, BNB traded at $213.

On that day, BNB’s MACD line crossed above the trend line. When the MACD line crosses above the signal line, it is often considered bullish. It suggests that the asset’s momentum is shifting upward, indicating a potential buying opportunity. The Relative Strength Index was 52.39, while the Money Flow Index was 51.55. These values suggested that spot traders preferred buying more BNB than selling.

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