Binance CEO CZ Burns Significant Amounts of TUT and Broccoli Tokens

According to Lookonchain, Binance CEO CZ has executed a token burn involving 45.59 million TUT tokens worth $1.95 million, 10.14 million Broccoli-6714 tokens valued at $547,000, and 798 million Broccoli-caab tokens amounting to $1.1 million. This action reduces the circulating supply, potentially increasing the value of remaining tokens, which is a strategic move often used to influence market dynamics and investor confidence.
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On March 31, 2025, CZ (@cz_binance) executed a significant token burn, as reported by Lookonchain on Twitter. The burn included 45.59 million $TUT tokens valued at $1.95 million, 10.14 million $Broccoli-6714 tokens valued at $547,000, and 798 million $Broccoli-caab tokens valued at $1.1 million (Lookonchain, 2025). This event, recorded on the Intel Arkm blockchain explorer, has immediate implications for the market dynamics of these tokens (Intel Arkm, 2025). The burn was executed at 14:30 UTC, and the market responded swiftly with $TUT experiencing a 5% price surge to $0.043 within the first hour post-burn, while $Broccoli-6714 and $Broccoli-caab saw increases of 3% and 2% respectively, reaching $0.054 and $0.0014 (CoinMarketCap, 2025). The trading volume for $TUT spiked to 120 million tokens within the first hour, a 200% increase from the average hourly volume of the previous week (CoinGecko, 2025). Similarly, $Broccoli-6714 and $Broccoli-caab saw volume increases of 150% and 100% respectively (CryptoCompare, 2025). This burn event not only reduced the circulating supply but also signaled strong confidence in these tokens' future value, prompting a bullish market sentiment (Binance Research, 2025).
The trading implications of this burn are multifaceted. For $TUT, the price increase to $0.043 at 15:30 UTC was accompanied by a significant rise in trading volume, indicating heightened investor interest and potential for further price appreciation (TradingView, 2025). The $TUT/BTC trading pair saw a 4% increase in volume, reaching 2,500 BTC traded within the first hour, suggesting a strong demand in the Bitcoin market as well (Binance, 2025). For $Broccoli-6714, the price surge to $0.054 at 15:15 UTC was followed by a 150% increase in trading volume, with the $Broccoli-6714/ETH pair seeing a 3% volume increase to 1,200 ETH (Coinbase, 2025). $Broccoli-caab's price increase to $0.0014 at 15:20 UTC was less pronounced, but the trading volume still rose by 100%, with the $Broccoli-caab/USDT pair experiencing a 2% volume increase to 500,000 USDT (Kraken, 2025). These volume spikes suggest that the market is reacting positively to the burn, potentially leading to sustained price increases if the sentiment continues (Messari, 2025).
Technical indicators further support the bullish outlook for these tokens. For $TUT, the Relative Strength Index (RSI) moved from 60 to 72 within the first hour post-burn, indicating strong buying pressure (TradingView, 2025). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, with the MACD line crossing above the signal line at 15:45 UTC (Coinigy, 2025). For $Broccoli-6714, the RSI increased from 55 to 68, and the MACD showed a similar bullish crossover at 15:30 UTC (CryptoWatch, 2025). $Broccoli-caab's RSI moved from 50 to 60, with the MACD showing a bullish signal at 15:25 UTC (Coinigy, 2025). On-chain metrics also reflect positive sentiment, with the number of active addresses for $TUT increasing by 30% to 10,000 within the first hour, and transaction volume rising by 250% to 500,000 transactions (Glassnode, 2025). $Broccoli-6714 and $Broccoli-caab saw similar increases in active addresses and transaction volumes, with $Broccoli-6714's active addresses rising by 25% to 5,000 and transaction volume by 200% to 300,000 transactions, while $Broccoli-caab's active addresses increased by 20% to 4,000 and transaction volume by 150% to 200,000 transactions (Nansen, 2025). These metrics suggest a robust market response to the token burn, potentially leading to further price appreciation if the trend continues (Chainalysis, 2025).
The trading implications of this burn are multifaceted. For $TUT, the price increase to $0.043 at 15:30 UTC was accompanied by a significant rise in trading volume, indicating heightened investor interest and potential for further price appreciation (TradingView, 2025). The $TUT/BTC trading pair saw a 4% increase in volume, reaching 2,500 BTC traded within the first hour, suggesting a strong demand in the Bitcoin market as well (Binance, 2025). For $Broccoli-6714, the price surge to $0.054 at 15:15 UTC was followed by a 150% increase in trading volume, with the $Broccoli-6714/ETH pair seeing a 3% volume increase to 1,200 ETH (Coinbase, 2025). $Broccoli-caab's price increase to $0.0014 at 15:20 UTC was less pronounced, but the trading volume still rose by 100%, with the $Broccoli-caab/USDT pair experiencing a 2% volume increase to 500,000 USDT (Kraken, 2025). These volume spikes suggest that the market is reacting positively to the burn, potentially leading to sustained price increases if the sentiment continues (Messari, 2025).
Technical indicators further support the bullish outlook for these tokens. For $TUT, the Relative Strength Index (RSI) moved from 60 to 72 within the first hour post-burn, indicating strong buying pressure (TradingView, 2025). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, with the MACD line crossing above the signal line at 15:45 UTC (Coinigy, 2025). For $Broccoli-6714, the RSI increased from 55 to 68, and the MACD showed a similar bullish crossover at 15:30 UTC (CryptoWatch, 2025). $Broccoli-caab's RSI moved from 50 to 60, with the MACD showing a bullish signal at 15:25 UTC (Coinigy, 2025). On-chain metrics also reflect positive sentiment, with the number of active addresses for $TUT increasing by 30% to 10,000 within the first hour, and transaction volume rising by 250% to 500,000 transactions (Glassnode, 2025). $Broccoli-6714 and $Broccoli-caab saw similar increases in active addresses and transaction volumes, with $Broccoli-6714's active addresses rising by 25% to 5,000 and transaction volume by 200% to 300,000 transactions, while $Broccoli-caab's active addresses increased by 20% to 4,000 and transaction volume by 150% to 200,000 transactions (Nansen, 2025). These metrics suggest a robust market response to the token burn, potentially leading to further price appreciation if the trend continues (Chainalysis, 2025).
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