BNB price surged over 10%, hitting $642.92 after CZ’s 90% BSC gas fee cut proposal.
RSI reached 78.42, confirming strong bullish momentum and overbought conditions.
BNB may test $700 if Binance validators approve the proposed BEP-336 transaction model.
On May 9, Binance Coin (BNB) climbed to $642.92, rising over 10% in 24 hours. The price rally followed a proposal from Binance founder Changpeng Zhao (CZ) to cut gas fees on Binance Smart Chain (BSC) by 90%.
The four-hour chart showed a breakout with volume reaching 34,190 BNB. The 50-period Exponential Moving Average (EMA) stood at $607.82, confirming bullish momentum.
CZ Proposes 90% Gas Fee Cut for BNB Smart Chain via BEP-336
Changpeng Zhao submitted a Binance Evolution Proposal (BEP-336) to reduce gas fees on the Binance Smart Chain by 90%. The proposed change aims to lower transaction costs and improve competitiveness against Solana and Ethereum. BNB Smart Chain’s current gas model uses a fixed base fee plus a priority fee.
CZ’s plan includes replacing the fixed fee with a blob-carrying transac…
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