"BNB, Strong Rally Expected... Network Continues Coin Burn"

# Binance Coin(BNB) Poised for Surge Amid Deflationary Measures and Ecosystem Growth The price of Binance Coin(BNB) is expected to climb significantly, driven by sustained coin burn activities on the Binance network, according to external crypto news sources. As of Tuesday, BNB traded at $620, marking a 20% increase from its March lows but still 22% below its all-time high. BNB has outperformed other Layer-1 coins like Cardano(ADA) and Solana(SOL), with analysts citing the robust growth of the Binance ecosystem as the primary catalyst. According to data from DeFi Llama, the total value locked (TVL) in the Binance ecosystem surged to $5.17 billion in March, while other leading Layer-1 networks reported declines in asset value. Additionally, the decentralized exchange operating within Binance’s network processed more than $43 billion in trading volume during March, underscoring its growing activity. # Drivers Behind BNB’s Growth: Coin Burn and Ecosystem Expansion One of the key reasons BNB has outshined most altcoins is its strong deflationary characteristics. Binance Coin employs two mechanisms to reduce its circulating supply. The first is a real-time burn mechanism, which destroys a portion of the gas fees generated on the network. Over the past seven days alone, 939 BNB, valued at approximately $577,838, were burned. To date, Binance has eliminated an estimated $160 million worth of BNB through this process. The second method involves quarterly automated burns, with the burn volume determined by the number of blocks generated during the quarter. In the first quarter of this year, 1.57 million BNB, equivalent to $1.01 billion, were destroyed. Additional burns are scheduled in the coming months under this mechanism. Binance Smart Chain(BSC) aims to gradually reduce the total BNB supply from the current 142 million tokens to 100 million. The recent rally in BNB price also reflects enthusiasm around its developers’ successful implementation of the “Pascal Hard Fork,” which improved integration with Ethereum. Binance is planning two additional hard forks in May and June to further enhance transaction speeds on its network. # Technical Analysis Signals Bullish Momentum for BNB Technical analysis supports the bullish outlook for BNB. Weekly charts reveal that the cryptocurrency has formed an ascending channel over the past few months, which coincides with the handle portion of a cup-and-handle pattern, a classic bullish continuation signal. Furthermore, BNB has consistently stayed above the 50-week moving average, signaling sustained upward momentum. Investors are optimistic that BNB will rise by 28% to reattempt its December peak of $790, contingent upon breaking through a critical resistance level at $662. With its deflationary mechanisms in full swing, growing ecosystem activity, and strong technical indicators, BNB appears well-positioned for further gains in the coming months.