The price of the native token on the BNB chain and on Binance, the world’s largest cryptocurrency exchange, is slowly but steadily approaching a critical resistance level near the previous all-time high of $691/BNB. The price of the cryptocurrency has never breached this level in multiple attempts since its creation three years ago.
Why? Changpeng Zhao, or CZ for short, the former head of the exchange known for his market influence, is expected to be released in four days, on September 29.
CZ, 4 and Binance Recall that as part of an agreement with the U.S. Department of Justice and the U.S. Securities and Exchange Commission, the exchange was fined a massive $4.2 billion earlier this year, while Changpeng Zhao himself was sentenced to four months in prison. Today, the former Binance executive is about to finish his sentence, and the price of BNB is hitting a multi-year high.

Of course, with so many technical and fundamental factors at play in the cryptocurrency space, traders and enthusiasts are increasingly speculating that CZ’s exit could be the trigger for BNB’s price to overcome heavy resistance and surge to new all-time highs. Whether it actually works is a big question.
However, the confluence of these factors looks impressive. It will also be interesting to see how the launch and return of such an influential figure will affect quotes in the cryptocurrency space. The market has never seen anything like this before, so whatever the outcome, we will be witnessing a precedent.#BNB金鏟子