The Binance Foundation officially concluded the 36th quarterly token burn on the BNB Chain on July 15th. Over 1.6 million BNB tokens, approximately $931,702,464 million, were burned.
At report time, data from BNBburn reveals that 291.06 BNB tokens ($164,501.29) have been burned in the last 7 days, bringing the total tokens burned to date to an estimated 67,807,123.61 BNB tokens, roughly $38.95 billion.
Historical Data outlines bullish possibilities for BNB’s price
After the successful token burn, BNB proponents and traders are awaiting the next move from the BNB token. It bears mentioning that the asset has historically traded higher in the short term.
The BNB token has often experienced an initial price jump of 1% to 8%, although long-term price performance is influenced by broader macroeconomic trends, BNB Chain ecosystem activities, and the asset’s trading volume.
Following the token burn, BNB hit a daily high of $584 after opening at $581 and closed at a low of $575. At report time, BNB is down 2.35% from the last 24 hours and 6.38% over the last 7 days. The 4th most valuable cryptocurrency by market cap is trading at a price of $563 at press time.
 
BNB’s quarterly burn is designed to sustain BNB’s market value in the long-term
In the long-term, BNB’s price is poised to benefit tremendously from the quarterly token burn. While the event is not designed to trigger immediate price spikes, the long-term impact is expected to position BNB as an attractive token for future investors.
Notably, the token burn is a long-term deflationary supply event designed to build value through scarcity; by shrinking BNB’s total supply to effectively sustain or increase the asset’s price in the coming years.
The BNB foundation aims to cut down BNB’s original supply of 200 million tokens in half—to 100 million over time. Thus far, more than 30% has been burned. As the BNB chain continues to grow, the quarterly buns will make BNB scarcer and could potentially increase BNB’s value per token in the long run.
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