The short version
- BNB price is down just 2.9% in October at $746, while Ethereum lost 11.9% and Solana 13.2%, and it is up 3.2% since BNB Chain burned 1.65 million BNB, worth about $1.2 billion, on October 19.
- BNB Chain now holds $1.59 billion of the $3.53 billion tokenized stock market, a 45% share, up from 34% a month ago, mostly Binance’s bStocks, and its weekly DEX volume rose 15% while Ethereum’s and Solana’s fell.
- The crew is watching $752: a daily close above the October 21 high opens $781 and $810, while a close under Saturday’s $718 low points to $706 and the 200-day EMA at $691.
The BNB price is doing something most of the market forgot how to do this month: holding still. BNB trades at $746 at the time of writing, up 0.9% on the day and down just 2.9% in October. Ethereum is down 11.9% over the same stretch, Solana 13.2%.
Two things landed in the same week. BNB Chain burned 1.65 million BNB on October 19, worth about $1.2 billion, and its share of the tokenized stock market jumped to 45%. So is that what’s holding BNB up, and how long can it last?
BNB Chain posted the burn on Monday morning:
The 37th quarterly $BNB token burn has been completed directly on BNB Smart Chain (BSC).
~1.64M $BNB has been burned, worth approximately $1.197B USD 🔥
View the details of the burn below 👇
bnbchain.org/en/blog/37th-b…
How Much Has BNB Outperformed in October?
By about nine points against Ethereum, and more against most large caps. Measured from the September 30 daily close on Binance, BNB is down 2.9%. Bitcoin is down 3.3%, XRP 12.1%, Ethereum 11.9%, Solana 13.2% and Dogecoin 17.7%.
The lead over Bitcoin came after the burn. BNB was down 6% on the month by October 18, worse than Bitcoin. Since that close, BNB is up 3.2% while Bitcoin lost 1.5% and Ethereum 1.9%. On Saturday, when ETH fell to its lowest level since August, BNB dipped to $718 and closed the day at $740, almost exactly where it opened.
It is still 46% below its $1,369.99 record from October 2025. This is relative strength in a falling market, not a new bull run.
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What Did the 37th BNB Burn Remove?
1,646,196.44 BNB, worth about $1.197 billion at the time, per the BNB Foundation. The coins went to a dead address on BNB Smart Chain in this transaction, and the total supply now stands at 131,512,085 BNB.
This BNB burn is bigger than the last one in both coins and dollars. The 36th burn in July removed 1,615,827.795 BNB, worth $931.7 million. This quarter took 1.9% more coins, and the dollar value rose 28.5% because BNB was trading near $727 at the burn against about $577 in July.
An auto-burn formula sets the amount from BNB’s price and the number of blocks BNB Smart Chain produced during the quarter. The goal is a total supply of 100 million BNB, so another 31.5 million have to go. This quarter’s burn took 1.24% of the supply in one go.
A burn is not a buyback, though. Nobody bought $1.2 billion of BNB on the market on Monday. The burn shrinks the supply on a fixed schedule that everyone knows weeks ahead, so it helps the story more than the order book.
DISCOVER: Market Cap, Supply and Why “Cheap” Coins Aren’t Cheap
Why Do Tokenized Stocks Matter for BNB?
Because they bring new users and new fees to BNB Chain, and every one of those trades pays gas in BNB. BNB Chain now holds $1.59 billion of the $3.53 billion in tokenized stocks that trade freely onchain, RWA.xyz data shows. That is a 45.0% share, up from 33.9% a month ago, and the value on BNB Chain rose 48.7% in the last seven days alone.
Ethereum is second with $748 million and Solana third with $519 million. BNB Chain holds more than both combined.
Almost all of it comes from one product. Binance’s bStocks, 1:1 backed tokens of US shares and ETFs that launched on BNB Chain in June, hold $1.30 billion across 99 assets. bStocks grew 70% in a week and passed Ondo to become the largest tokenized stock platform tracked by RWA.xyz. The launch post lists Venus and Lista DAO for lending them and PancakeSwap for pairing them, which keeps the activity on the chain.
That activity shows up in trading, too. DEX volume on BNB Smart Chain hit $7.08 billion in the last seven days, up 15.2% on the week before, per DefiLlama. Ethereum’s fell 8.6% and Solana’s 9.7% over the same week.
EXPLORE: Robinhood Chain Passed $100B in DEX Volume. Now Perps Out-Trade Spot as Memecoins Fade
BNB Price Analysis: Can BNB Break $752?
Not yet, but it is close. The BNB price sits above the 50-day EMA at $734 and well above the 200-day EMA at $691. The October 21 high at $751.86 has capped every bounce this week.
BNB usually moves less than Ethereum or Solana in both directions, so holding up in a sell-off doesn’t promise it leads the next rally. It also rises and falls with Binance itself, and bStocks are a Binance product.
The levels the crew is watching:
- Bull case: a daily close above $751.86 opens the way to $780.64, and above that the October 5 high at $809.99.
- Base case: a range between $718 and $752 into Wednesday’s Fed decision, with BNB holding up better than the rest of the market.
- Bear case: a daily close under $718, Saturday’s low, puts the October 18 low at $705.86 and the 200-day EMA at $691 in play.
The burn is done for this quarter. What keeps the BNB price up from here is the part that doesn’t come on a schedule: people trading stocks on BNB Chain and paying for it in BNB.
