BNB just burned in Q37: ~1.65 million BNB, worth approximately $1.2 billion—the third-largest burn in history by USD value. After reading this, it’s clear the BNB ecosystem is playing a very different game. Current circulating supply is now just 131.5 million, down by one-third from 200 million in 2017, and 68.5% of the way toward its target of 100 million. Since 2017, supplies of ETH, ADA, TRX, and XRP have increased by 21–64%, while SOL has surged even more. One side is burning, the other is minting—decide which side you’re on. Market flow agrees: BNB has seen net outflows from exchanges for 11 consecutive days, with buyers dominating the spot market. At a price around $740–750, multiple analysts are already pointing to $800 as the next target. With rigid deflation and dwindling supply on exchanges, sellers are running low on ammunition. Holding the BNB ecosystem this season still looks worthwhile.