- BNB price is hovering near $620 as bulls target a new short-term high.
- The 35th quarterly burn reduced BNB supply to 134.7 million.
- A shift in macro and geopolitical conditions could boost BNB and other altcoins.
BNB price traded to highs of $630 on Wednesday, recovering to intraday highs after previous moves across cryptocurrencies dampened bulls’ plans.
The rejection at a multi-week peak means Binance Coin’s value is back near the $620 mark, with buyers looking to pile in as BNB revealed that its second quarterly burn of 2026 has reduced the supply of the original token to around 134.7 million.
Could this supply pressure help the BNB price rise, or are the short-term headwinds too strong for the bulls?
BNB supply declines amid quarterly burn
According to the BNB Foundation, the 35th quarterly burn permanently removed 1,569,307.34 BNB tokens worth $1.02 billion from circulation.
This means that the total supply has decreased further, with the measure now standing at 134,786,916.53 and reinforcing the deflationary mechanism of the currency.
On the upside, what this burn does is push BNB towards the 100 million token target.
More than 40% of the initial supply has been removed since BNB launched, with regular removals introduced in 2021. In January of this year, Binance recorded a Burn 34Which removed 1.37 million BNB worth $1.29 billion at the time.
Rising on-chain metrics, such as rising daily active users and decentralized app usage, have directly boosted burn volume amid growth in real-world assets, decentralized finance (DeFi), gaming, and Layer 2 ecosystems.
$16,600,000,000 of assets are tokenized on the 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 few months have seen the ecosystem token suffer from negative pressure. Controversial headlines and fear, uncertainty, and doubt (FUD) around Binance and its founder, Changpeng Zhao, have contributed to the downtrend since its highs at $1,300.
It is worth noting that the 54% decline from the ATH of $1,370 on October 13, 2025, is in line with the overall losses for Bitcoin and Ethereum.
Macroeconomic and geopolitical headwinds have largely limited Bitcoin, with the recent rally stalling at around $76,000.
Currently, BNB price remains near $620, which is slightly below the highs seen after the burn and in line with Bitcoin’s retest of the $74K level.
Despite these expectations, the double bottom formation at the $600 support area indicates the potential for a bullish reversal for BNB. Positive momentum indicators and new inflows could reinforce this picture.
If Bitcoin benefits from 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; A breakout could push prices to a level between $1,000 and $1,200.
However, a close below $600 threatens to wake up more bears.
If this reflects a broader pullback in the cryptocurrency space, the next support level could be around $530.
