BNB burns $1B in tokens – Will the supply shock push price back to $700?

BNB Chain has reportedly burned 1.57 million BNB tokens, worth $1.02 billion at the time of the event. This was its 35th quarterly auto-burn program report and was slightly lower than its 34th round, which torched $1.28 billion BNB in January. For Q2 2026, the chain expects to burn another 1.64 million tokens, worth $982 million at current prices.  Since the burn program began in October 2017, the chain has cleared 67.2 million BNB tokens from its supply. The goal is to bring the circulating supply to 100 million BNB, or 50% of the original supply of 200 million tokens.  After the latest burn, the current circulating supply is 134.78 million BNB, meaning that about 35 million tokens are left to hit the target.  In other words, assuming the current burn rate of 1.5 million BNB per quarter or 6 million BNB annually, it would take about six years (2032) to hit the target.  Binance's gold trading volume explodes Separately, Binance, the centralized exchange behind the BNB Chain, has reported record gold trading volume as non-crypto activity surges.  During the peak of gold trading mania in March, Binance volume rivaled key physical gold trading hubs like Dubai, India, and Japan.  While this could be great for BNB market sentiment, the massive volumes only benefit the centralized exchange’s revenue. It's worth pointing out that this centralized revenue is not used for the BNB buyback and burn program as Hyperliquid does.  In fact, Binance has maintained its lead on broader derivatives trading despite losing 5% in the spot trading market share.  That said, will the ongoing aggressive deflationary program by BNB Chain boost the altcoin’s price?  Impact on BNB price? On the price charts, BNB was up 5% this week and traded at $622 at the time of writing. However, it was still down about 80% from its record level of $1.37K hit last October.  Interestingly, the pullback has eased at the 200-weekly EMA (Exponential Moving Average, white). The dynamic support stopped the last bear market crash. If the trend repeats, the current level could be a great entry for long-term investors.  Final Summary BNB Chain torched $1.02 billion BNB in Q1 and eyes another 1.6 million tokens for Q2.  The BNB price was down about 80% but had hit a key support that marked the bottom in the 2022 bear market.