Co -founder of Binance, Changpeng “CZ” Zhao, announced that BNB Holdings exceeded the estimated value of $ 75.8 billion when the token violated the recent highest levels on Monday.
BNB (BNB) knocked on Monday a recent highest level of USD 850.70 According to To Nansen. Analysts claimed that the burns token, growing chain indicators and whale activity could be the causes of price increases.
Forbes report of June 2024 noticed that CZ has 64% circulating BNB delivery of 139.3, with Binance controlling another 7%, which means that the former general director of Crypto Exchange has about 89.1 million tokens.
In February CZ he said In the post on Binance Square, 98% of his portfolio was in BNB, and 1.32% in Bitcoin (BTC).
He has the richest list of Forbes billionaires ranking In 23rd place, with a net value of $ 71 billion, based on 90% shares in Binance and his BNB Stash.
75.8 billion dollars from BNB itself would place him over the American philanthropist Julia Koch and her family, who have 42% shares in Koch Industries, the second largest private company in America.
BNB Spike based on growing chain indicators
Dominick John, an analyst at Kronos Research, told Cointelegraph that the growth of BNB over the past seven days appears among the growing chain indicators, such as total blocked value (TVL), Stablecoin market capitalization and a decentralized Pancakswap Pancakswap volume, all climbing to 2025.
Related: BNB Binance chain collection among institutional, DEFI adoption
At the same time, he said, whale wallets and the demand for the treasure are growing. The Chinese company Microchip Nano Labs in June began its maintenance plan up to 10% of the total BNB supply.
“To keep this shoot, tax demand must remain strong, BNB chain indicators, such as TVL and Pancakswap, must maintain popularity, and quarterly burns must still limit supply, and at the same time avoiding serious negative macro messages that could shake the market.”
Maxwell Bnb Shrewd Chain upgrade, which was launched on June 30, also speculated that the rally could be around the corner. At that time, the BNB chain syndrome said that the improvement would create faster blocks, better coordination of validators and smoother network performance.
BNB Burn and whales can also be a factor
The initial supply of BNB was set at 200 million coins, but the supply gradually decreases due to bin’s burn initiated by Binance to reduce the number in circulation.
Kadan Stadelmann, director of the Komodo platform technology technology, told CointeLgraph that the token Burn program may have significant implications for the token price.
“The tokens burn program will reduce supply and in itself is an attempt to support the BNB price.”
“In the past, Binance has conducted many burns of BNB tokens, which both reduced supply and led investors to wait for more burns to token. The last burns of tokens will open this hypothesis,” added Stadelmann.
Stadelmann said that whales and corporate investors also have a “disproportionate influence” on smaller markets, such as BNB and evidence, such as Binance.
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