BNB Chain Rises to 686 USD as CZ Buzz Drives Breakthrough Towards 800 USD

The 96 billion dollar Token of BNB Chain surged to 668 dollars on May 22, surpassing Solana as transactions skyrocketed by 600% and fees fell to 0.11 dollars—currently, speculators are whispering about a breakout at 800 dollars. This increase highlights how bottom costs and the new buzz around DeFi are redirecting liquidity to the BNB Chain just as the broader market keeps an eye on Bitcoin. This growth may be attributed to increased DeFi activity, the development of stablecoins, and market speculation, although no single driver has been confirmed.

The Activity of the BNB Chain Increases as CZ’s Post Attracts Market Attention Since Changpeng Zhao resigned from Binance at the end of 2024 under a legal agreement, his social media activity sometimes coincides with the times when BNB Chain receives more attention. Although CZ no longer holds an official position at Binance, some market participants have understood that his post has an impact on trading activities.

One case occurred in February when CZ shared a post that mentioned his dog’s name as “Broccoli”. Soon after, many memecoins with this name were launched on BNB Chain, including a memecoin called " CZ’s Dog (BROCCOLI), " which reached a market cap of up to $300 million in a short time.

Since then, liquidity on the BNB Chain has increased, with daily transactions reaching a six-month high of $11.03 million. The market capitalization of the chain has also surpassed $10 billion, only one billion dollars less than Solana and larger than Base, Arbitrum, Sui, and Aptos combined.

Data from DeFiLlama also shows that BNB Chain is currently the most dominant chain in DEX activities, with an average DEX volume reaching 7 billion dollars per day. Stablecoin USD1 Linked To Trump Adds Fuel To The Growth Of BNB Chain One of the leading protocols driving the development of the BNB chain is $USD1, a token deployed by the company affiliated with Trump, World Liberty Financial (WLFI), which has chosen the BNB chain as its launchpad. Moreover, the significant fall in gas fees has supported an increase in the number of transactions and active wallet addresses on the BNB chain. On May 8th, the transaction fee on the BNB chain dropped to 0.11 Gwei, less than 0.11 dollars to execute any transaction on the blockchain.

100 times cheaper than Ethereum’s gas fees. Currently, on most centralized cryptocurrency exchanges, the BNB chain is the preferred network for stable money transfers, as most exchanges do not charge transfer fees on the network. These factors have prompted a cryptocurrency chart expert to assert that although $BNB is unlikely to receive the attention it deserves, its price will rise above 800 dollars.

According to him, $BNB has gone through a consolidation process for four years and will not be rewarded by a bullish market in three months. He believes that the current rally will last a little longer. Binance Coin Price Prediction: Can $BNB Break the $740 Level or Will It Revert? Looking at the daily chart of $BNB/$USD, the price is at $673.4, up 1.81% and has broken through the important resistance level at $686. The chart shows that $BNB has completed a corrective pattern from a low of $720 down to a low of $520 and currently seems to be in a recovery phase.

The orange Elliott Wave labels suggest that this bullish move could target the $740 area. The key levels to watch out for are the key resistance zone at $720-740 (hộp the đỏ) color above and the support level at $686 (hiện has broken the cự) resistance and $561 (hộp xanh) color below.

The breakthrough at $686 with a decent trading volume indicates real buying momentum, but the real challenge will be whether BNB can break through the resistance zone of $720-$740. A failure there could lead to consolidation, while a breakout above could accelerate the upward trend.