🚀 BNB rose by 10% after CZ's proposal to reduce fees on the BSC network

The price of Binance Coin reached $642.92 for the week, gaining over 10% in a day. The increase followed Changpeng Zhao's proposal to cut fees on Binance Smart Chain by 90%.

↗️ Technical analysis:

🟡On the 4-hour chart, BNB broke the resistance level with a volume of 34,190 BNB.

🟡The 50-day EMA ($607.82) confirms the bullish trend.

🟡The RSI index (78.42) has entered the overbought zone, indicating strong upward momentum.

CZ presented the Binance Evolution Proposal, suggesting to replace the current fee model for transactions with “blobs,” similar to Ethereum EIP-4844.

🪙 This could reduce the average fee from 0.005 BNB to 0.0005 BNB, increasing the competitiveness of BSC.

If the trend continues, the next target could be $700 — the last time the price reached this level was in early 2022. The final decision depends on the voting of BSC validators.