Crypto's richest man is free I'm of Course referring to Chang panga AKA CZ The co-founder and former CEO of binance And now that CZ is out all eyes are on BNB the crypto currency that he Technically co-founded and after months Of grinding higher cz's return could be The Catalyst that takes the BNB coin to New alltime highs and that's why today We're going to bring you up to speed on Everything BNB has been up to see Exactly where its price could be headed Next and look at just how big the BNB Ecosystem could grow miss this miss Out I'll start by saying that nothing in This video is financial advice it's Purely educational content intended to Inform you about BNB and I'll also note That at the time of making this video None of us on Team coin Bureau hold BNB In our personal portfolio AOS and of Course this video is not sponsored in Any way it should go without saying now If you happen to be curious about which Cryptos we do hold though uh then join The coin Bureau Club it's where we share Our crypto portfolios or provide Daily Altcoin Alpha do weekly reviews of Promising small cap altcoins which are Voted on by our members and answer your Questions in the exclusive members Discord the link will be down in the Description with all that said the last Last time we covered BNB was over 2
Years ago so it's safe to say that a lot Has happened since then thankfully how B&B Works hasn't changed that much so You can refer to our first video over Here if you're unfamiliar with the Project I will also point out any Changes along the way today now to bring You up to speed our last BNB review was In June 2022 and this was shortly after BNB rebranded from binance coin to BNB The rebranding appears to have been done To try and decentralize the project to Avoid regulatory scrutiny from the ACCC Which was investigating binance over BNB At the time unfortunately uh this didn't Work as the secc eventually sued binance In June of 2023 and not surprisingly one Of the many allegations was that BNB was An unregistered security analogous to an Unregistered stock in binance Fortunately the judge ruled in July this Year that secondary sales of BNB were Not Securities if this sounds familiar That's because the judge in the sec's Case against Ripple basically made the Same ruling about xrp in July of last Year the Practical effect of this was it Became possible for xrp to relist on Certain us exchanges and although this Hasn't happened with BNB the precedent For it has been set so uh take note of That now one surprising thing about the Sec's lawsuit against binance is that It's still ongoing even though binance
Already settled with other us Regulators Whereas the potential for BNB to be Listed on us exchanges is a Tailwind the Sec's ongoing case against binance well That's a headwind so also take note of That one but back to 2022 in October of 2022 bnb's cross Chain Bridge was Exploited for $100 million therefore Context BNB consisted of Two Chains the BNB Beacon chain and the BNB smart chain Now a hacker managed to trick the bridge Between the two chains into minting Extra BNB on the smart chain they then Managed to swap $100 million of BNB for Other cryptos before the smart chain was Eventually brought to a halt the good News is that the smart chain was Subsequently hard forked and the issue That caused the exploit was fixed the Bad news however is that additional Vulnerabilities have since been Identified now for example jump crypto Found another vulnerability in February 2023 and this suggests there still could Be others not only that but the fact That BNB is currently in the process of Merging the beacon chain with the smart Chain likewise opens the door to new Vulnerabilities now for what it's worth So far the process has been going Smoothly and it could serve as another Catalyst that takes BNB to new all-time Highs more on that in a moment and by The way if you're enjoying this video so
Far be sure to smash that like button to Let us know and subscribe to the channel And ping the notification Bell as well So you don't miss our next altcoin Update anyways back once again to 2022 Now in December BNB surpassed ethereum By wallet addresses now for reference Ethereum had around 2117 million wallet Addresses and BNB had over 233 million To today ethereum has over 283 million Wallet addresses but BNB has exploded Higher to almost 473 million very impressive growth and B&B's explosive growth is presumably why A governance proposal was tabled for UNIS swap to expand its dexs to the Binance connected blockchain in January Of 2023 what's interesting though is That this seems to have become a bit of A battle between uni Wales some of whom Didn't want un swap to deploy on BNB for Instance crypto VC firm a16z put down Over 15 million uni against the proposal Ethereum infrastructure company Consensus responded by putting down over 7 million uni in favor of the proposal In the end the proposal was passed and The Unis swap Dex was deployed to BNB in March of 2023 what's fascinating though Is that Unis swaps tvl on BNB has been Stagnant since its launch in fact the Same is true for the total value locked On BNB more generally and this might Have something to do with the regulatory
Crackdown on binance's buusd stablecoin In early 2023 obviously a lot of B USD Was on BNB to refresh your memory paxos Was ordered to wind down bu USD in February 2023 and B usd's market cap Subsequently fell from over 15 billion To ENT Al zero now while there isn't a Direct correlation with the decline in Bnb's tvl per se uh the relative absence Of stable coins on BNB seems to be Holding it down more on that shortly now On a more positive note BNB revealed a Decentralized storage solution called Greenfield in February 2023 after Multiple months of testing its main net Went live in October 2023 and this Created a new dimension of demand for BNB and made it possible for BNB and Other cryptos to further decentralize Again this wasn't enough to dissuade the SEC from suing binance which you'll Recall happened in June 2023 and this Made the news that BNB would be adding a Panic feature to stop its blockchain That much more concerning and many took It as a sign that the B&B chain could be In trouble because of this lawsuit if That wasn't bad enough the US Department Of Justice revealed that it was Concerned that a Crackdown on binance Would result in a bank run that destroys The crypto industry in other words the Doj wanted to crack down on binance but It was scared that it would do more harm
Than good as most of you will no doubt Know binance settled with the doj Shortly afterwards specifically in November 2023 and if you watched our Summary of the settlement you'll know That the reason why the settlement was So favorable was precisely because Binance was a systemically important Crypto player in case you didn't know Binance paid a fine of $4.3 billion Which amounted to a bit of a slap on the Wrist the catch is that the slap on the Wrist involved a very firm grip too and As one of the conditions was to Effectively allow us authorities to Monitor the exchange given them Unprecedented oversight even so the Settlement was extremely bullish for BNB Which had recently launched another Crypto product that was op BNB a layer 2 Scaling Solution on BNB that went live Last September oddly enough it seems That most BNB related activity is now Taking place on its layer too and that's Because opnb has almost five times more Active wallets than BNB itself that's 5.6 million versus around 1.2 million in Case you you're wondering what makes This odd is that the total value locked On opnb is apparently less than 30 Million at least according to defi llama And this suggests that most opnb users Are doing things that are nonfinancial In nature and this seems to be confirmed
By deap radar which notes deepen and AI Deps as the most used in any case in December last year BNB announced that it Would be merging the BNB Beacon chain And the BNB smart chain something that's Still ongoing officially this was Because the beacon chain didn't provide Any utility besides things like staking Which could be migrated to the smart Chain unofficially though this seems to Be a continuation of bnb's efforts to Decentralize in this case it looks like BNB is merging the beacon chain with the Smart chain so that it can claim that The smart chain was when the crypto Project actually began and this is Evident in BNB C crating its 4year Anniversary this September for those Unaware the BNB originally launched in April 2019 and the smart chain didn't Launch until September 2020 logically This means that BNB is closer to being 5 Years old than 4 years old but from our Perspective omitting this fact is an Attempt to avoid regulatory scrutiny but We'll come back to that later as well as Bnb's road map for this merge now in February this year another Blue Chip Defi protocol from ethereum expanded to BNB and this was arve the decentralized Lending and borrowing protocol which we Covered in a recent video top right por Foror anyways even though A's growth on BNB has likewise been lackluster its
Upcoming upgrade could change that now In March this year BNB added a third Pillar to its ecosystem of products the BNB chain layer to a rollup as a service Solution that makes it possible to Easily build and deploy layer tws on BNB According to the chain layer 2 website Three additional layer twos have been Added over the last 6 months and then in April this year CZ was sentenced to Just 4 months in prison a very bullish Outcome given that the doj wanted him Banged up for 3 years a cz's release Date was set for the 29th of September Which was just a couple of days ago now If this release has resed Ed in a pump Of BNB you should view this with a Little bit of Suspicion and that's Because onchain analysis conducted by Grey wolf analytics in June suggests That CZ controls as much as 64% of bnb's Circulating Supply and this is possible Given that 40% of bnb's initial Supply Went to binance's Founders which of Course includes CZ on that note it's Possible that cz's potentially large BNB Holdings are a part of the reason why BNB hasn't been listed on us exchanges Despite the subsequent ruling that Secondary sales of BNB were not Securities FYI the SEC well they don't Like it when lots of the supply of a Coin or token is held by the entities That created it regardless in August
This year yet another blue chip defi Protocol on ethereum expanded to BNB and This time it was Lio Finance which Bridged its liquid state eth token to BNB low and behold stth also hasn't seen Much adoption on BNB with just 0.62 stth Bridged according to the BSC scan Explorer Al this didn't deter BNB from Launching a new cross chain feature Focused on stable coins and you'll Recall that there don't seem to be too Many stable coins on BNB besides Binance's own pegged stable coins of Course it seems that BNB is working to Remedy this situation by making it Easier to bridge Legacy stable coins and This includes other tokenized crypto Products such as wrapped BTC which also Expanded to BNB in September so far Seven wbtc have been bridged to BNB Which is a good start then again some Would say that it's best it didn't start At all uh you may have heard that there Have been concerns around wbtc ever Since tron's Justin Sun got involved More about Tron and Justin sun over here Moving on now all of this ties into Bnb's price action which has been one Hell of a roller coaster funnily enough Our last review about BNB from June 2022 Seems to have marked the bottom and as You can see though BNB nearly Revisited Those lows in the second half of last Year due to the binance lawsuit and
Regulatory Crackdown after the Settlement in November BNB rallied by More than three times which is seriously Impressive given that BNB is already a Sizable crypto I mean it's literally the Fourth largest crypto by market cap and Third if you exclude usdt and B&B's Impressive performance seems to be Because it has lots of demand drivers And utility in addition to transaction Fees and staking on BNB it's used on Greenfield op BNB and three other layer Twos that have launched on BNB and more Importantly BNB continues to be used in Binance's ecosystem primarily as a means Of participating in binance's launch Pools which are kind of like def facto Ico offerings moreover a portion of all Transaction fees on BNB are burned and Over 18 million BNB have been burned Since we last covered the project that Works out to more than 10% of bnb's Circulating Supply during that time and I'll quickly note that BNB also conducts Quarterly Burns and not just the fee Burns speaking of which these Burns Could explain why CZ seems to hold so Much BNB the inial IAL 40% allocated to Binance's Founders has become a bigger Part of the p as more BNB has been Burned uh some of you will know B&B Burns will continue until its Supply is 100 million and it's currently at 145 Million when you combine this with the
Fact that BNB technically has no Inflation it creates a favorable supply Side to its economic equation and as I Just mentioned the demand side is Incredibly robust due to all the use Cases in inside and outside of bnb's Immediate ecosystem it's no wonder BNB Is as big as it is the only thing we are Wondering is whether that massive cup And handle pattern is going to play out As you can see this pattern has been Painted over a 3-year period And if it Plays out BNB could rally above $1,000 Per coin and that would translate to an Over 6,000 times return for the Ico Investors for anyone getting involved Now though it would only translate to a Gain of around 70% this is incredible Relative to traditional assets but it's Well Me by crypto standards it's also Hard to see how BNB could grow much Bigger considering that this rally would Give it a market cap of almost $150 Billion believe it or not but bnb's Potential could depend on whether CZ Actually holds as much as some analysts Have claimed if he does indeed hold 64% Of bnb's supply and continues hodling This will restrict bnb's tradable Supply By 2/3 put simply it would make it Possible for BNB to pump by more than You'd expect when you realize that CZ Probably also holds billions of dollars Of other assets and potentially sees BNB
As the evolution of binance from CI to Defi it seems likely that he would Continue hodling indefinitely still some Would say it would be best not to have To bet on what the founder of a project Will do this fact is why we don't think BNB will pump by more than two to three Times from here and that's roughly how Much BTC could pump between now and the End of the crypto bull market and it's Safe to assume that BNB will see gains That are at least as big as BTC again Objectively good gains but they could be Better one way to maximize these BNB Gains is to use the coin Bureau deals Page it's got trading fee discounts of Up to 70% and sign up bonuses of up to $100,000 on the best crypto exchanges And these will help you squeeze every Drop out of a crypto's rally but only if You take advantage of them before They're gone the link will be down in The description now whether BNB can pull More than a two to three times Ultimately depends on its upcoming Milestones the first Milestone that Needs to be mentioned is the launch of a Fourth BNB produ product and that's ZK BNB another scaling solution it was Announced back in October 2022 and it Still seems to be in the works as a fun Fact ethereum Creator vitalic buin Believes that ZK rollups will become the Gold standard for ethereum scaling you
See right now though ethereum's most Popular layer twos are all optimistic Rollups this is probably why BNB has put ZK BNB on the back burner and launched Op BNB first whatever the case bnb's Second set of Milestones relates to op BNB a scaling Road Map was published Last November and it notes that opnb Aims to scale to 10,000 transactions per Second and reduce its gas fee by 10 Times in Q3 this year it seems these Milestones were reached just a couple of Weeks ago B&B's third set of Milestones Pertains to its ongoing merge between The beacon chain and the smart chain uh Per the BNB Fusion website there are Just two stages left before the merge is Finally complete and these will include Multiple Milestones most of which Involve moving assets from the beacon Chain to the smart chain and then Shutting down the beacon chain now the B&B merge will be completed by mid October news flash that's another Bullish Milestone that could take BNB to New all-time highs and this ties into The fourth Milestone that seems to be Implicit to bnb's recent blog posts and That's the official launch of the BNB Foundation now for those unfamiliar BNB B is currently being developed by a Company called BNB chain Innovation Limited which seems to be based in Dubai And Hong Kong in recent months the BNB
Foundation has been noted as being Responsible for doing things like bnb's Quarterly token burns the only Information we could find about the BNB Foundation is a LinkedIn profile which Hasn't been archived and this suggests That it's new and that a foundation is There in the works with a bit of luck This will make it easier for BNB to list On more exchanges namely in the US a Fifth set of milestones for BNB and its Ecosystem of products can be found in a Blog post from January this year there Are too many to mention here and most of Them are quite technical in nature the Only one worth pointing out is the third Version of bnb's parallelized evm which Will increase its scalability of course The same blog post also includes areas Of focus for BNB in 2024 and they Include everything you'd Defy gamey social F AI deepen etc etc it Goes without saying that this doesn't Tell us very much but bnb's recent event At token 2049 however that certainly did It revealed exactly which areas a BNB is Focused on and these are stable coins Payments real world assets or rwas and To a lesser extent BTC F that's defy That leverages BTC and this would Explain why bnb's most recent Developments have related to stable Coins and why BNB is even trying to Integrate with telegram to leverage its
User base of almost 1 billion monthly Active users if you watched our ton coin Review you'll know that it's also been Integrating with telegram and that's Part of why we're so bullish on ton and This makes sense given that ton coin was Originally created by telegram but BNB Trying to go the same route to secure Mass adoption however that doesn't make As much sense and this brings me to the Uh challenges that we foresee for BNB And the first challenge is Centralization or rather the perception That BNB is centralized now to be clear BNB is decentralized at the technical Level it is operated by 45 independent Validators uh the addition of Greenfield Made it even more decentralized but when It comes to BNB Holdings however it can Be argued that BNB is centralized even If CZ doesn't hold as much BNB as some Analysts have suggested the fact that He's believed to hold a large amount Probably makes big investors uneasy About BNB and this could explain why There aren't many stable coins on BNB And this ties into bnb's Second Challenge and that's adoption now BNB Fundamentally owes its success to the Fact that it was the exchange chain for Binance and this made it easy for lots Of users and capital to flow from Binance to BNB however it seems that That this has been happening a lot less
These days the fact that binance is now Under new leadership and subject to Oversight by us authorities could mean That BNB is playing a smaller role than It used to in fact it's possible that Binance could explicitly distance itself From BNB as CZ is reportedly banned from Being involved in binance in any Capacity and this relates to bnb's third Challenge and that's competition from Other layer ones and and even other Layer twos in case it wasn't clear Enough BNB leverages the evm for smart Contracts and this makes it one of the So-called ethereum killers and it's part Of why BNB performed so well during the Last crypto bull market this time around However it's not ethereum and the Ethereum killers that are in the Spotlight it's salana and the salana Killers and this is for many reasons but They can be summed up as usability and Speed make no mistake this is something In BNB has been focused on but it's Arguably falling a bit behind and this Pertains to bnb's Fourth and final Challenge and that of course is Regulation now B&B's apparent attempts To paper over the past with a chain Merge and efforts to decentralized with The possible launch of a nonprofit Suggest regulation is top of mind for The team behind BNB as such it should be Top of mind for us too at the same time
Though there's currently nothing to Suggest that BNB is at risk of a Regulatory Crackdown on the contrary it Seems to be off the hook in the US and Its continued association with binance Makes it a way for investors to bet on The world's biggest crypto exchange by Proxy of sort and this is why we believe BNB will perform well during this crypto Bull market despite these challenges Whether it will perform better than Other similarly sized cryptos is another Question entirely I mean the honest Answer is that similarly size cryptos Like Soul could have more potential than BNB in percentage terms at least but if There's any Mega cap crypto that has the Potential to surprise to the upside at This stage well it's definitely BNB okay that's all for today's video if You found it informative smash that like Button to let us know and if you want to Stay informed about promising altcoins Then subscribe to the channel and ping The notification Bell as well and if you Want to inform others about BNB then uh Be sure to share this video with them as Always thank you very much for watching And I'll see you in the next one this is Nick out [Music]
