Binance Coin, or BNB, is integral to the current cryptocurrency system. The token is trading at $583, up 2% in the last 24 hours. The token has noted a modest uptick and is now speculated to trade at consistent bullish streaks as Binance’s CEO Changpeng Zhao has finally been released from prison.
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CZ Released From Prison
Changpeng Zhao, CEO of the Binance cryptocurrency exchange, has been released from prison. Zhao was arrested on charges related to violating US anti-money laundering laws. The matter later escalated when reports confirming CZ owning 64% of the BNB token supply came to light.
Impact on BNB Performance
Zhao has finally been released from prison and will now be sent to his RRM-long halfway point in California under custody. Since the news of CZ’s arrest, BNB has been performing moderately, maintaining a steady price pace. The token may note a few upticks now that CZ is out of prison.
Speculative Spree
The speculative spree, however, has already begun, with users on X hoping to see some significant price action in BNB now that Zhao has been released from prison. BNB has long maintained a steady price pace while noting minor downticks in its price.
Future Price Path
Now that CZ is out, BNB is expected to carve a new price path based on bullish speculations currently sweeping the crypto space.
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BNB Price Prediction for September
According to CoinCodex, BNB may spike by 19% to hit an all-time high of $699 by September 2024.
“According to our current Binance Coin price prediction, the price of Binance Coin is predicted to rise by 19.40% and reach $699.70 by September 22, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 34 (fear). Binance Coin recorded 14/30 (47%) green days with 6.59% price volatility over the last 30 days.”
BNB is predicted to hit the $1024 price mark by the end of 2024, surging by a staggering 75% in the process.
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“Binance Coin is forecasted to trade within a range of $586.04 and $1,027.85. If it reaches the upper price target, BNB could increase by 75.86% and reach $1,027.85.”