- BNB price hovers near $620 as bulls target a fresh short-term rally.
- The 35th quarterly burn has reduced BNB supply to 134.7 million.
- A shift in macro and geopolitical conditions could bolster BNB and other altcoins.
BNB price traded to highs of $630 on Wednesday, recovering to intraday highs after earlier moves across crypto dented bulls’ plans.
The rejection at the multi-week peak means the Binance Coin’s value is back near the $620 mark, where buyers are looking to pile in as the BNB Foundation reveals its second quarterly burn of 2026 has cut the native token supply to approximately 134.7 million.
Could this supply squeeze help BNB price higher, or are short-term headwinds too strong for bulls?
BNB supply drops amid quarterly burn
According to the BNB Foundation, the 35th quarterly burn has permanently removed 1,569,307.34 BNB tokens valued at $1.02 billion from circulation.
This means the total supply has dropped further, with the metric now at 134,786,916.53 and reinforcing the coin’s deflationary mechanism.
On a bullish note, what this burn does is to advance BNB toward the 100 million token target.
More than 40% of the initial supply has now been eliminated since BNB’s launch, with regular removals introduced in 2021. In January this year, Binance marked the 34th burn, which removed 1.37 million BNB worth $1.29 billion at the time.
Surging on-chain metrics, such as all-time high daily active users and dApp usage, have directly boosted the burn’s scale amid growth in real-world assets, DeFi, gaming, and layer-2 ecosystems.
$16,600,000,000 in tokenized assets on BNB Chain, making it a new ATH.
According to @tokenterminal 👇 https://t.co/gFwSsV9Kis
— BNB Chain (@BNBCHAIN) April 9, 2026
BNB price analysis
While BNB exploded in 2025, the past several months have seen the ecosystem token struggle with downside pressure. Controversial headlines and fear, uncertainty, and doubt (FUD) around Binance and its founder, Changpeng Zhao, have contributed to the downtrend since the highs of $1,300.
Notably, the 54% dip from the ATH of $1,370 on October 13, 2025, aligned with overall losses for Bitcoin and Ethereum.
Macroeconomic and geopolitical headwinds have largely capped BTC, with the latest uptick stalling around $76,000.
Currently, BNB price lingers near $620, slightly off highs seen after the burn and in line with Bitcoin’s retest of the $74k level.
Despite this outlook, a double-bottom formation at the $600 support zone points to bullish reversal prospects for BNB. Positive momentum indicators and fresh flows could strengthen this picture.
If Bitcoin rides macro and geopolitical tailwinds to a new year-to-date peak, BNB could test resistance at $800.
The supply zone coincides with the 50-week moving average; breaching it could propel prices to the $1,000-$1,200 hurdle.
However, a close below $600 risks awakening more bears.
If this mirrors a broader crypto downturn, the next support level could be around $530.
