BNB Price Drops Following $1.65 Billion Token Burn, Faces Key Resistance at $1,150

Binance Coin (BNB) experienced a price decline after the completion of a massive $1.65 billion token burn event. The cryptocurrency now faces significant resistance near the $1,150 price level as traders assess the impact of the reduced supply. Market analysts are closely watching BNB's price action to determine if the token burn will ultimately prove bullish for the asset's long-term valuation despite the immediate sell-off pressure.