Binance Coin (BNB) continues to show impressive growth, reaching a new all-time high (ATH) of over $850. This article looks at the factors contributing to this growth as well as the impact on the wealth of Binance founder Changpeng Zhao.
Overview of BNB's New ATH
BNB has set a new ATH exceeding $850. This event coincides with the overall growth of altcoins, which is actively supported by Ethereum.
Factors Driving BNB's Growth
Kronos Research analyst Dominick John noted that BNB's price increase is linked to rising demand. He also pointed out the treasury plan of Chinese company Nano Labs and the accumulation of BNB in whale wallets.
Changpeng Zhao's Wealth and BNB Holdings
According to a June 2024 Forbes report, Changpeng Zhao holds 64% of the circulating BNB supply, amounting to approximately 89.1 million BNB tokens, valued at $75.8 billion.
The recent rise of Binance Coin has led to an increase in Changpeng Zhao's wealth, driven by high token prices. Current economic factors will determine BNB's future trend.
