BNB Hits New High Near $850 Amid Token Burns and Rising Chain Metrics, Binance Co-Founder’s Wealth Could Reflect Gains
Main Idea
BNB's price reached a new all-time high near $850, driven by token burns, whale accumulation, and strong on-chain metrics, significantly increasing Binance co-founder Changpeng Zhao's net worth to over $75 billion.
Key Points
1. BNB's price surged 12% in the past week, supported by record highs in Total Value Locked (TVL), stablecoin market capitalization, and PancakeSwap trading volumes.
2. Changpeng Zhao's net worth exceeds $75 billion due to his ownership of 64% of BNB's circulating supply (89.1 million tokens).
3. Token burns reduce BNB's supply, enhancing scarcity and investor confidence.
4. The Maxwell upgrade on June 30 improved BNB Chain's performance, contributing to the price rally.
5. Whale accumulation and institutional demand, including corporate holdings like Nano Labs, provide strong price support.
Description
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