Binance founder Changpeng Zhao (CZ) commented on the price increase after BNB surpassed $1,000. While Zhao stated that there was no definitive reason, he shared a comprehensive list of factors influencing the rise. Zhao noted that the new cryptocurrency-friendly administration in the US, in particular, has had a positive impact on global markets, saying, “This stance has affected not only the US but many countries. A rising tide lifts all boats.” CZ also highlighted the technical advancements in BNB Chain, stating that the chain has reached peak transaction volume thanks to the reduction of block time from 3 seconds to 0.75 seconds, increased capacity, and a 10-fold reduction in transaction fees. He also noted that the USD1 stablecoin issued by the WLF has injected new momentum into the ecosystem. Zhao stated that the gap created by BUSD, which was closed by the NYDFS last year, was filled with USD1, increasing the stablecoin's liquidity. He also noted that hundreds of AI and RWA (real-world asset) projects have been launched on the BNB Chain. Related News: CZ-Affiliated Investment Firm Invests in Developers of Surprise Altcoin In addition to ecosystem developments, Zhao also cited factors such as the SEC's withdrawal of its lawsuit against Binance and CZ, large venture capital investments, and the success of projects like PancakeSwap and Lista. He also noted that BNB burned $1.6 billion in tokens in the last quarter. CZ said that he is merely “a mascot, or even more of a community member” in this process, adding that there are many factors contributing to the price increase and that the ecosystem will grow even more. *This is not investment advice. Continue Reading: Binance Founder CZ Reveals Why BNB Price Reached $1,000
