BNB Price Targets $1,000 as CZ Brings Adoption to Binance Chain

The BNB price had a strong performance this week after the developers unveiled more ambitions for 2025. Binance Coin also surged after Changpeng Zhao (CZ) launched his meme coin, and after a judge agreed to a 60-day stay on a long-running case between the SEC and Binance. These actions, together with its cup and handle pattern points to a surge to $1,000.

BNB Price Boosted by CZ’s Brings More Adoption to Binance Chain

The BNB price is having a good week as activity in the ecosystem rises. One catalyst was CZ’s commitment to boost its network activity and ecosystem growth. This happened after CZ unveiled his dog, Broccoli, which led to more activity in the network. 

CZ then agreed with a user who said that meme coins were time bombs and recommended that the network focus on giving incentives to teams building utility coins. The user said:

“What made people leave the chain back when it was BSC was exactly all the rugs and scams, at one point it was unbearable. We already have that in other chains, we definitely don’t need more of it. Theres so much that can be done and built. We don’t need more memes.”

Increased adoption will benefit the value of BNB since users will need the token to pay transactions. A good example of this is Solana, which has done well because of its strong ecosystem growth. 

BSC Chain Priorities for 2025

His statement came two days after the BSC Chain unveiled its priority for 2025. In an X thread, the developers noted that the key areas will be increasing transaction speeds so that it can get to 100 million transactions per day, introducing more AI features, reducing MEV, and allowing gasless transactions.

Further, the growing network activity increased Binance coin burn rate, and higher fees pushed the BNB staking yield to 103%, making it the highest-yielding crypto. 

These priorities will likely help the Binance Chain ecosystem do well. For example, PancakeSwap has overtaken Uniswap, Raydium, and Meteora in weekly transaction volume. It handled $21 billion worth of transactions compared to Uniswap’s $17 billion and Raydium’s $16 billion. 

Further, a judge in the US agreed to a request by Binance and SEC to pause proceedings in a long-running case.

Binance Coin Price Analysis: C&H Points to More Gains

The BNB price has more upside as it has formed a cup and handle pattern on the weekly chart. This pattern has three key sections: a rounded bottom, a top, and a handle. 

The upper side of this cup was at $661, its highest level in October 2021 and June last year. It then formed a rounded bottom whose bottom was around the $200 level. The coin has now been forming the handle section, meaning that a complete breakout could happen soon. 

This C&H had a depth of about 70%. Therefore, measuring the same distance from the upper side means that the coin may surge to $1,147. 

However, the rebound to this Binance coin price forecast may take time to happen since this is a weekly chart. For example, the handle section took about two months, while the cup section took three years to form.

A drop below the handle section at $403 will invalidate the bullish BNB price outlook as it will cancel the C&H pattern.