BNB Breaks $1,140 Barrier: Bullish Momentum Fuels Target of $1,300

Binance Coin (BNB) is experiencing a surge in price, nearing the $1,140 level as bullish momentum builds. The token has successfully broken out of its previous trading range and traders are now focusing on reaching the $1,300 target. Key factors contributing to this upward movement include Binance’s recent $1.2 billion token burn, a move that significantly reduces supply and boosts market confidence. Binance automatically burns BNB at a rate based on price and block count. This new system ensures transparency and decentralization, as burns are directly on-chain with all tokens going to the designated black hole address.