The Binance Coin (BNB) experienced a significant increase of over 10% in one day, reaching $642.92. This rise came after Binance founder 'Changpeng Zhao (CZ)' announced a new proposal aimed at reducing fees on the Binance Smart Chain (BSC) by 90%.
The proposal, known as BEP-336, aims to make the network cheaper and faster, enhancing its appeal to users compared to competing networks like Ethereum and Solana. This move has been met with great enthusiasm from the cryptocurrency community, especially since transaction fees are one of the main challenges facing users.
The news sparked a wave of optimism in the market, with some predicting that BNB will continue to rise and may approach the $700 barrier if the positive momentum continues and the proposal is approved.
It remains to be seen how this development will affect the future of the BSC network and the price of BNB in the coming days.
