The release of Changpeng Zhao, founder of Binance, is expected to have a positive impact on the cryptocurrency market, especially BNB. If BNB breaks above the $600 resistance level, the price could continue to increase by another 20%. With Zhao completing his 4-month prison sentence on September 29, 2024, this is the right time to consider investing in BNB. Here are the key factors to consider:

1. Bohr Hard Fork Upgrade: BNB Smart Chain Infrastructure Improvements

The Bohr hard fork, the upcoming major upgrade of the BNB Smart Chain, promises to improve the network's performance and scalability. Scheduled to launch on September 29, the upgrade will incorporate four key proposals:

  • BEP 341: Allows validators to create multiple blocks in a row, making processing faster.

  • BEP 402: Add missing information to block header for more secure validation.

  • BEP 404: Optimize validator change process by removing unnecessary miner history.

  • BEP 410: Enhance authenticator management by adding a monitoring agent.

In particular, BEP 341 will improve block production speed, thereby providing a better experience for both users and developers.

2. BNB Futures Market Surge: Positive Signals from Open Interest

BNB trading activity on the futures market is growing significantly, with open interest increasing 28% over the past two weeks, from $460 million to $589 million. This increase shows investor confidence in the growth potential of BNB, as more traders and capital flow into this market.

3. Breakout from reversal pattern: Strong bullish signal

In recent weeks, BNB has made an impressive recovery, rising from $471 to $596, a 27% increase in just three weeks. This growth has created a reversal pattern known as the “inverted head and shoulders,” which often signals further price increases in the future.

In addition, Binance has recently launched a lot of Launchpool, it is expected that there will be many more products listed next, Binance has almost dominated this playground since its launch until now.

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