Recent estimates show that the net worth of Changpeng "CZ" Zhao, co-founder of Binance, has exceeded $75 billion after the price of BNB reached its all-time high of $850.70. This significant growth is attributed to several factors, most notably periodic burn operations, improved indicators for the BNB network, and increased whale activity.
According to the Nansen platform, CZ owns about 64% of the circulating supply of BNB, which amounts to 139.3 million coins, meaning CZ's share is approximately 89.1 million coins. Binance itself holds an additional 7% of the supply. Forbes data indicates that 98% of CZ's investment portfolio consists of BNB, while his Bitcoin share does not exceed 1.32%. According to the same list, CZ ranks 23rd among the richest billionaires in the world.
The rise of BNB was not random; it increased by 12% over the past week, influenced by an increase in the value locked on the network and the improvement of indicators such as the market cap of stablecoins and the trading volume of the PancakeSwap platform. Additionally, a number of large wallets began accumulating the coin, and institutional demand for it rose. Analysts noted that the Chinese company Nano Labs plans to own 10% of the circulating supply of BNB, which enhances confidence in the market.
The recent technical update known as Maxwell, which was applied to the BNB Smart Chain network at the end of June, played a role in boosting optimism as it contributed to the acceleration of block production and improved coordination among validators, leading to smoother performance.
On the supply side, the number of BNB was initially set at 200 million coins, but it gradually decreases thanks to the burn program followed by Binance, which positively reflects on the price of the coin according to statements by Kaden Stadlman, the technical director at Komodo. He stated that previous burn operations led to a reduction in supply and increased expectations for continued burning in the future.
Finally, analysts pointed out that large investors and institutions represent a strong influencing factor on coins that operate under the proof of stake system like BNB, disproportionately affecting the market compared to individual investors.
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