Share this article
BNB Climbs Toward $700 as $1B Token Burn and Corporate Treasury Plans Fuel Demand
The price rise was driven by a combination of the broader cryptocurrency market rally and a fresh $1 billion token burn.
Jul 11, 2025, 11:29 a.m.
Make us preferred on Google
What to know:
- BNB rose 2.8% to $688.7, driven by a combination of the broader cryptocurrency market rally and a fresh $1 billion token burn.
- The token burn is part of the token's deflationary strategy to cut the total supply to 100 million tokens.
- Growing interest in using BNB as a corporate treasury reserve is also driving demand, with over 30 teams working on structuring public-company treasury reserves in BNB.
BNB is edging closer to the $700 mark as traders responded to a fresh $1 billion token burn and growing interest in using the asset as a corporate treasury reserve.
Over the last 24-hour period, BNB rose about 2.8%, from $670.40 to $688.7. Trading surged as the price moved up, amid a broader cryptocurrency market rally that saw bitcoin hit a new all-time high above $118,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The price briefly hit an intraday peak near $695 before settling into a tight range around $689.
The wally wasn’t just fueled by the rising crypto tide. Binance’s 32nd quarterly burn permanently removed about 1.59 million BNB from circulation, bringing the total value burned to 265,605 BNB according to a tracking website.
The burns are part of a deflationary strategy aiming to cut the total supply to 100 million tokens.
On top of this, over 30 teams are reportedly working on ways to structure public-company treasury reserves in BNB, with investment firm 10X Capital backing a plan for a $500 million U.S.-listed BNB treasury company.
Active addresses on BNB Chain have doubled since March, hovering around 2.5 million daily, according to Nansen data. Similarly, average daily transaction volumes have tripled.
Investors are watching to see if BNB can crack the psychological barrier at $700 in the days ahead.
Technical Analysis Overview:
- BNB gained 2.77% over the 24-hour period, signaling solid upward momentum, according to CoinDesk Research's technical analysis model.
- Price ranged $27.51 (4.11%) between a low of $667.61 and a high of $695.12.
- Trading volume spiked to 155,426 tokens at the close of yesterday’s trading, more than double the 24-hour average of 64,169.
- Resistance is visible near $695.12, while support has emerged around $667.61.
- After the initial rally, prices consolidated within a narrow $1.51 band from $688.81 to $690.73.
- Strong support has settled near the $688.80-$689.00 zone.
- The market briefly tested resistance at $690.73 before easing back in a controlled pullback.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
