Key highlights:

  • The BNB price has soared following the latest token burn event
  • After the 36th quarterly token burn, the supply has decreased to 133.17 million
  • The BNB token needs to hold the $585 resistance to confirm the bull run

BNB Chain has successfully completed its 36th quarterly token burn. As announced by the platform, the latest token burn event has permanently removed 1.61 million BNB, valued at a staggering $932 million at the time of the burn.

Token burns are usually seen as a positive catalyst, reducing the amount of coins that could potentially enter the market. With the latest burn, the BNB circulating supply has been cut down to 133.17 million, slowly closing in on the chain's target of reaching a circulating supply of 100 million tokens. 

BNB price rebounds after $932M token burn

On July 15, 2026, BNB Chain took to X to announce its token burn event. The platform removed 1,615,827 BNB from circulation (over $900 million) as it completed its 36th quarterly token burn.

It is also worth noting that latest quarterly burn has destroyed more BNB tokens than the previous event in April. The 35th event burned 1,569,307.34 BNB, worth about $1.02 billion at the time. After this burn, the supply had reached 134.79 million.

Unveiling the new token burn mechanism

What is more noteworthy about the BNB Chain’s 36th quarterly burn is that it has marked an important update in the token burn mechanism. From now onwards, quarterly token burns will be executed directly on the BNB Smart Chain (BSC).

In detail, the burned tokens will be sent to the 0x000000000000000000000000000000000000dEaD blackhole address. This is to make the BNB tokens permanently destroyed or inaccessible. As the private key to this address is not held by anyone, the tokens can never be recovered. Thus, they cannot return into circulation, being removed forever.

Interestingly, the development comes on the heels of BNB Chain’s plans to launch a new Layer 1 blockchain. As we previously covered, Binance has unveiled plans to launch a layer 1 blockchain tailored for AI agents. 

BNB's performance remains muted

Despite the large token burn, BNB has been posting a fairly disappointing performance recently. In the last week, the coin is only up 3%, lagging behind both Bitcoin (+5%) and Ethereum (+11%). BNB has also underperformed Bitcoin on a year-to-date basis, losing 33% since the start of the year.