- Only 17% below its all-time high of $793, BNB continues to perform strong, with most major altcoins still over 40% shy of their peaks.
- Due to regular quarterly burns, more than 60 million tokens have been eliminated from supply.
Binance Coin (BNB) continues to display strong technical and on-chain resilience, outperforming many high-cap cryptocurrencies in 2025. While several altcoins remain far below their previous highs, BNB has closed the gap to just 17% below its all-time high of $793. In contrast, Solana (SOL) and other top-tier tokens are down over 40% from peak levels.
Multiple indicators support that sustained price strength. BNB just set a new high in December 2024 and has since been consolidating inside of a range without any major drawdown. The Total Value Locked (TVL) on the platform crossed $6 billion for the first time in three years, and derivatives markets have no signs of excessive leverage. Furthermore, the supply of stablecoin on the BNB Chain reaches 2 year high, showing that some capital is building up until it can be deployed.
Crypto Patel, a technical analyst, has called for strong upside targets. In addition, he highlighted a potential breakout from a multi-year consolidation zone and identified bullish targets between $ 1,200 and $2,000. His analysis also shows a long-term target near $4,280, but he is skeptical of $2,000 being the top in this cycle.
Burns, Caps, and Locked Supply Keep BNB Scarce
BNB tokenomics are designed for scarcity. Binance started the supply of 200 million and adjusted the supply through quarterly token burns until the supply became half of the original supply. These burns usually take out up to $1 billion worth of BNB from circulation at a time. More than 60 million tokens have been burned, and less than 140 million remain in supply, most staked or locked up in Binance products.
Additionally, BNB’s controlled emissions and regular burns limit its available liquidity, while high-cap coins have circulating supplies that run in the billions of coins. The reduced float allows the price to remain stable despite market sentiment in the broader market going bearish. The demand is also very strong. Most users keep BNB in the ecosystem for discounts on trading fees, staking, or otherwise DeFi activities.
BNB Chain Activity Surges Ahead of Maxwell Upgrade
Just recently, BNB Chain posted its most active week in over a year, with 123 million transactions. In May, the network also managed to handle over $178 billion in trading volume, indicating ongoing usage and retention of users. This came amid a surge of expectations regarding the Maxwell hard fork that is slated to improve transaction speed as well as add AI components.
.@BNBChain just had its most active week in a year!
✅ Over 123 million transactions in 7 days!
And with the Maxwell hard fork coming soon bringing faster finality and major efficiency, that number could 2x very soon.
Bullish on #BNBChain @cz_binance 🔥 pic.twitter.com/ecyvktIQuH
— غازي – Ghazi (@Q8Three) June 4, 2025
Popular analysts expect a dramatic improvement in network performance once Maxwell activates. Crypto analyst Ghazi says transaction volumes could double post the upgrade, aligning with its increased scalability and competitiveness.
While the first quarter of the crypto market was very challenging, BNB seems to have weathered volatility better than most. Moreover, its drawdown stayed below 36%, much lower than all its peers. Coinvo analysts highlighted the bullish structure of the asset, seen in continued sideways tightening as part of a healthier pause in a bigger uptrend.
$BNB is still looking insanely bullish.
Ignore short term price action and focus on long-term trends! pic.twitter.com/pQMWmSghH1
— Coinvo (@ByCoinvo) June 4, 2025
