BNB Eyes $700 as CZ Pushes 90% Binance Chain Fee Cut

• BNB price surged over 10%, hitting $642.92 after CZ’s 90% BSC gas fee cut proposal.
• RSI reached 78.42, confirming strong bullish momentum and overbought conditions.
• BNB may test $700 if Binance validators approve the proposed BEP-336 transaction model.

On May 9, Binance Coin (BNB) climbed to $642.92, rising over 10% in 24 hours. The price rally followed a proposal from Binance founder Changpeng Zhao (CZ) to cut gas fees on Binance Smart Chain (BSC) by 90%. 

The four-hour chart showed a breakout with volume reaching 34,190 BNB. The 50-period Exponential Moving Average (EMA) stood at $607.82, confirming bullish momentum.

CZ Proposes 90% Gas Fee Cut for BNB Smart Chain via BEP-336

Changpeng Zhao submitted a Binance Evolution Proposal (BEP-336) to reduce gas fees on the Binance Smart Chain by 90%. The proposed change aims to lower transaction costs and improve competitiveness against Solana and Ethereum. BNB Smart Chain’s current gas model uses a fixed base fee plus a priority fee. 

CZ’s plan includes replacing the fixed fee with a blob-carrying transac…

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