CZ Urges Banks to Adopt BNB as Analyst Predicts $1,300 Price Target

Binance founder Changpeng Zhao urged banks to adopt BNB after the token’s valuation surpassed Union Bank of Switzerland (UBS), one of the world’s leading private banks. His call came as analysts projected a bullish breakout targeting $1,300.

CZ Urges Banks To Adopt BNB Amid Rally To ATH

According to Companies Market Cap data, UBS currently has a market cap of $129.08 billion. This falls short of the market cap of $130.64 billion of BNB, according to data from TradingView.

Zhao further stated that he was willing to help banks utilize BNB effectively, as it is useful in trading, payments, and blockchain applications. His comments follow a larger trend that crypto assets are starting to be viewed as an alternative to more traditional banking products.

BNB’s importance continues to grow inside and outside Binance. It is being used for trading fees and in blockchain applications. The recent partnership between Binance and Franklin Templeton also underscored this expanding institutional recognition of BNB.

The positive momentum in the price of BNB further contributes to the adoption call made by Zhao. Market analyst Ali attested that BNB has now pulled out of a correctional space. His projections include a climb to $1,300. The breakout structure suggests that buyers are taking control, setting the stage for another major rally.

BNB Momentum Rises Amid Viral Millionaire Claim Debate

BNB price surged to $941.87, after a 1.85% intraday gain. The rally lifted the token more than 10.7% in a week and 11% in the past month. In the last six months, the token has recorded a 56.31% increase in price while its year-to-date growth is presently at 34.03%. The token has risen 72.85% in the last year.

The two elements of institutional push and technical optimism have put the token in a very visible position. In addition, good market conditions make BNB one of the leading altcoins in the ongoing cycle.

Meanwhile, a viral post on social media claimed an investor with $300 in BNB from 2017 is now worth more than $25 million today. However, when Zhao replied to the post by asking, “Which address?” no response was given.

One of the comments indicated that there’s no address holding 28,500 BNB on BscScan, except if the holding is stored directly on Binance. Many in the comments argued that the claim is not true.