CZ says he wants to cut the transaction fees on the BSC chain (by 3-10 times). If this really happens, the chain is likely to get lively. Gas fees are essentially the "toll fees" you have to pay when transferring money or playing DeFi on the blockchain; for example, transferring money is like sending a package, and the Gas fee is the postage. The cheaper the postage, the more people like to send packages. After the fees are reduced, those who are always messing around with small transactions and meme projects are likely to flock to BSC, especially for those engaged in high-frequency trading, which can save a lot of money. But be careful, if everyone rushes in and the network gets congested, then prices might rise again due to queuing.
Additionally, over in the U.S., if trade relations between China and the U.S. ease, it might give the crypto market some more confidence, but the Federal Reserve is stubbornly not lowering interest rates, and the dollar remains strong. It will still be tough for Bitcoin to reach new highs. Right now, the market feels like a tug-of-war; on one side, the favorable conditions of the BSC ecosystem are gaining momentum, while on the other, the Federal Reserve is holding back liquidity to prevent any upward movement.
Moreover, Binance's own Alpha trading volume hitting the roof indicates that there are many people in the casino, and such times often lead to high volatility and the emergence of meme coins. In the short term, BNB might surge on the back of BSC's favorable news, but the overall market still needs to watch the Federal Reserve's stance. It's advisable to keep an eye on the data changes on the BSC chain; if the trading volume really picks up after the fees drop, it won't be too late to jump in then.
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