- Former CEO of Binance is set for release two days earlier.
BNB dominance and 365D ROI pointing a bullish outlook.
As a seasoned researcher with a knack for understanding the crypto market dynamics, I find myself quite intrigued by the recent developments surrounding Binance Coin (BNB). The imminent release of Changpeng Zhao, the charismatic CEO of Binance, is undoubtedly adding fuel to the fire.
Recently, there’s been a surge in Binance Coin [BNB] due to updates regarding the possible early return of its previous CEO, Changpeng Zhao (CZ).
As a crypto investor, I’m excited to share that, according to Forbes, it seems that CZ might be discharged from wherever he is two days ahead of schedule. This early release is due to the fact that the original date coincides with a weekend. A Binance representative has expressed their happiness about this development, as it means that CZ will soon reconnect with his loved ones.
After concluding my two-month stint in a low-security penitentiary in California, I was relocated to a transitional facility. Within this new environment, I was granted escorted excursions.
On the day of his release, CZ opted out of granting interviews, yet it’s anticipated that his comeback will invigorate BNB‘s market standing.
After eagerly awaiting the launch of CZ’s project, I’ve noticed a steady recovery in BNB prices since the market slump last month. At the moment of writing this, BNB is trading above $604, having surged more than 11% from its previous levels.
The amount of trades has been gradually increasing as well, and it’s anticipated that the unveiling of CZ’s release will further propel Binance Coin (BNB) upward.
The volume-to-market ratio of BNB looks promising, and being ranked fourth in terms of market capitalization among cryptocurrencies gives it plenty of liquidity and stability. This makes BNB a compelling choice for potential investors.
As we approach October, several signs suggest a possible upward trend may be on the horizon.
Binance dominance on the rise
To highlight, the influence of Binance Coin (BNB) in the market is growing, contrastingly, the dominance of Ethereum [ETH] seems to be on a downward trend, as AMBCrypto previously pointed out.
This change places BNB among the alternative cryptocurrencies expected to show robust growth during the last three months of the year, particularly post the announcement made by CZ (Changpeng Zhao), considering his substantial 90% ownership of Binance.
Watching the overall cryptocurrency market value (excluding stablecoins) climb higher, we also observe that Binance Coin’s (BNB) market capitalization increases too. This trend suggests a promising outlook for BNB.
An increase in influence typically suggests a surge in market curiosity, leading to stronger buying demands. This situation might possibly propel Binance Coin (BNB) prices upward during the upcoming months.
BNB holders in profit
To wrap up, investors in BNB are still being generously compensated, as their 365-day Return on Investment (ROI) currently stands at 2.804%.
The high return on investment (ROI) indicates that, generally speaking, individuals holding BNB are realizing profits now, setting up BNB for potential growth in the last three months of the year.
Read Binance Coin’s [BNB] Price Prediction 2024–2025
The profitability of BNB, coupled with the latest announcements from CZ, paints an optimistic picture for the coin. Given that BNB consistently delivers returns to its investors, it continues to be an attractive option for investment.
The coin is well-positioned for the expected bullish momentum in the upcoming months.
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2024-09-27 11:36