• #اخبار_الكريبتو_العاجلة #اقتصاد_رقمي #عملات_رقمية‬⁩ #wct $BNB

  • $ETH

  • $ETC

  • BNB price briefly traded at its all-time high

  • at $1,005.29.

  • Changpeng Zhao stated that the pro-crypto U.S. administration and interest rate cuts, among other reasons, may have contributed to this rise.

  • The BNB price was last seen undergoing a correction on the chart.

The price of BNB witnessed a moment of recovery when it briefly surpassed $1,000. This set a new record for the Binance token and simultaneously sparked speculation about its return to this high level. The BNB price has now fallen to a lower value, which may indicate a correction. However, the sentiment surrounding the BNB price is positive. Changpeng Zhao, the founder of Binance, took some time to explain the potential reasons behind the rise in BNB's price.

The new BNB price is an all-time high

The price of BNB surpassed the $1,000 mark and briefly traded at an all-time high of $1,005.29. The Binance token price has returned below this level, trading at $988.14 at the time of writing. This represents a decrease of 0.48% over the past 24 hours. However, the BNB price reflects an increase of 9.07% over the past seven days and 18.46% over the past thirty days. Trading volume over the past 24 hours has also seen a notable decrease of 6.03%.

According to CoinCodex data, the price of BNB is likely to exceed the $1,000 mark again in the next thirty days. The data indicates a potential increase of approximately 6.69% during the specified time period, bringing the BNB price to around $1,054.40. There is a general sense of optimism regarding BNB amidst fluctuations of 3.54%.

The founder of Binance, Changpeng Zhao, lists the possible reasons

Changpeng Zhao, the founder of the Binance platform, listed the potential reasons for the BNB coin reaching its all-time high price of $1,005.29. Zhao, also known as CZ, mentioned that the BNB price may have reached its peak due to the new administration's support for cryptocurrencies in the United States. He described himself as a member of the Binance community and added that the return of meme coins to the BNB chain could have significantly impacted the rise in BNB's price.

Furthermore, Changpeng CZ Zhao noted that the BNB chain has worked to reduce block time from 3 seconds to 1.5 seconds, in addition to reducing gas fees by a factor of 10. He continued to list potential reasons, indicating that the issuance of USDT1 on the BNB chain might be another contributing factor.

Most importantly, I acknowledge that the Federal Reserve's announcement of a rate cut, ranging between 4.0% and 4.25%, may also play a crucial role. The US Federal Reserve announced a 25 basis point rate cut and indicated that it may announce two similar rate cuts before the end of 2025.

Celebrating the BNB price reaching an all-time high

Binance announced, via a separate post on platform X, that it will celebrate the BNB price reaching an all-time high. It has provided rewards worth $800,000. This prize can only be won by making an initial trade of $100 or more. Some members described this timing as perfect for onboarding new users into the ecosystem.

Changpeng Zhao has previously explained various ways to penetrate developments in the cryptocurrency market. According to Zhao's explanation, intruders impersonated employees or employers to access the market.