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BNB price is beating Ethereum and Bitcoin; CZ responds
The post BNB price is beating Ethereum and Bitcoin; CZ responds appeared on BitcoinEthereumNews.com. Binance Coin continued its strong performance this week, reaching an all-time high of $794. Binance Coin (BNB) has done better than some large coins like Ethereum (ETH) and Bitcoin (BTC) over the last 12 months. It has gained 220%, compared to BTC’s 133% and ETH’s 71% rise in the same period. In response to an X post highlighting this performance, Changpeng Zhao noted that investors often focus on 24-hour performance, missing the broader long-term gains. People only care about performance in the last 24 hours, scratch that, 8 hours. ???? Too many people are looking for a quick win, and then they miss out on the much bigger long-term wins. — CZ ???? BNB (@cz_binance) December 5, 2024 The BNB price momentum is being driven by its strong fundamentals and technicals. Fundamentally, the DeFi total value locked in the BSC ecosystem has jumped to almost $6 billion, making it the fourth-biggest chain after Ethereum, Solana, and Tron. BSC’s protocols in the DEX industry have also seen a sharply in the past few months, helped by the ongoing crypto rally. It has handled tokens worth $9.91 billion in the last 30 days and $1.17 trillion cumulatively. Additionally, the BNB Chain has been actively burning coins. The most recent quarterly burn removed 2.02 million coins from circulation. Binance’s long-term goal is to reduce the total Binance Coin supply to 100 million coins. The BNB price has also done well after Binance launched BFUSD, a stablecoin that promises a yield of almost 20%. These developments have created more utility for the Binance coin. Another driver of BNB’s rally is the resolution of regulatory concerns. Changpeng Zhao, Binance’s founder, recently completed his prison sentence in the United States, reducing some of the regulatory overhang affecting the coin. BNB price has strong technicals BNB price…
The post BNB price is beating Ethereum and Bitcoin; CZ responds appeared on BitcoinEthereumNews.com.
Binance Coin continued its strong performance this week, reaching an all-time high of $794. Binance Coin (BNB) has done better than some large coins like Ethereum (ETH) and Bitcoin (BTC) over the last 12 months. It has gained 220%, compared to BTC’s 133% and ETH’s 71% rise in the same period. In response to an X post highlighting this performance, Changpeng Zhao noted that investors often focus on 24-hour performance, missing the broader long-term gains. People only care about performance in the last 24 hours, scratch that, 8 hours. ???? Too many people are looking for a quick win, and then they miss out on the much bigger long-term wins. — CZ ???? BNB (@cz_binance) December 5, 2024 The BNB price momentum is being driven by its strong fundamentals and technicals. Fundamentally, the DeFi total value locked in the BSC ecosystem has jumped to almost $6 billion, making it the fourth-biggest chain after Ethereum, Solana, and Tron. BSC’s protocols in the DEX industry have also seen a sharply in the past few months, helped by the ongoing crypto rally. It has handled tokens worth $9.91 billion in the last 30 days and $1.17 trillion cumulatively. Additionally, the BNB Chain has been actively burning coins. The most recent quarterly burn removed 2.02 million coins from circulation. Binance’s long-term goal is to reduce the total Binance Coin supply to 100 million coins. The BNB price has also done well after Binance launched BFUSD, a stablecoin that promises a yield of almost 20%. These developments have created more utility for the Binance coin. Another driver of BNB’s rally is the resolution of regulatory concerns. Changpeng Zhao, Binance’s founder, recently completed his prison sentence in the United States, reducing some of the regulatory overhang affecting the coin. BNB price has strong technicals BNB price…
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