Changpeng “CZ” Zhao, co-founder of Binance, is now estimated to hold over $75.8 billion in BNB after the token soared to an all-time high of $850.70 on Monday, according to Nansen. A June 2024 Forbes report showed that CZ controls 64% of BNB’s circulating supply—roughly 89.1 million tokens—placing him among the world’s wealthiest individuals.
CZ previously confirmed that 98% of his portfolio is in BNB, with only 1.32% in Bitcoin, making him highly exposed to the token’s price movements. With BNB alone, CZ’s wealth surpasses that of notable billionaires like Julia Koch. Analysts attribute the BNB price surge to rising chain metrics, including increases in TVL, stablecoin market cap, and PancakeSwap volume, all reaching yearly highs.
Maxwell upgrade and token burns fuel BNB’s momentum
The Maxwell upgrade to BNB Smart Chain, which went live on June 30, further boosted optimism. The upgrade enhanced validator coordination, accelerated block speed, and improved network performance—all of which helped fuel the token’s rally.
Another major driver behind BNB’s climb is Binance’s ongoing token burn strategy, which gradually reduces supply to increase scarcity. Another major driver behind BNB’s climb is Binance’s ongoing token burn strategy, which gradually reduces supply and increases scarcity. These regular burns not only support price growth but also strengthen investor confidence by signaling long-term deflation. Additionally, large holders and institutional investors continue to play a significant role in influencing BNB’s price due to the token’s relatively concentrated ownership structure.
