BNB Price Surges 3% Following Massive $1.69 Billion Token Burn, Overtakes XRP Market Cap

BNB cryptocurrency demonstrated significant bullish momentum with over 3% price surge following the completion of a massive token burn event eliminating $1.69 billion worth of BNB tokens from circulation. This strategic supply reduction coincided with BNB surpassing XRP in market capitalization, positioning Binance Coin among the top cryptocurrencies by market value. The token burn mechanism, regularly implemented by Binance, reduces total supply while potentially increasing scarcity and value for remaining tokens. Market analysts observe this development as positive for BNB's long-term valuation prospects amid growing adoption of Binance Smart Chain and ecosystem expansion.