Key Insights:
- BNB price hits a new all-time high of $1,350 with a 17% surge in 24 hours.
- Recovery from $1,090 low during the market crash signals strong demand.
- Binance founder Changpeng Zhao, or CZ, attributes performance to builders, community, and deflationary tokenomics.
BNB price, also known as Binance coin, has surged to a new all-time high of $1,350. The coin has posted nearly 17% gains over the past 24 hours and recovered from crash lows of $1,090.
Binance founder CZ attributed the strength to organic growth from builders and the community rather than market maker intervention.
BNB Price Surges to New $1,350 ATH
BNB price established a new all-time high at $1,350 and is a notable recovery from the $1,090 level reached during recent market volatility.
The rally in the Binance Coin from $1,090 to $1,350 is a $260 move or approximately 24% from recent lows.
Investors who accumulated near $1,090 support realized substantial gains as BNB outperformed Bitcoin, Ethereum, and other major cryptocurrencies.
Analyst Altcoin Sherpa called the move surprising, noting, “BNB is insanely strong, this surprised me a bit seeing the move today.”
The analyst observed that while “all majors are bouncing a bit,” BNB’s outperformance “confirms that the BSC/BNB ecosystem is the place to play for now.”
Trading volume surged alongside price appreciation. The combination of volume expansion and price breakout to new highs suggests continuation potential.
CZ Attributes BNB Price Pump to Builders & Deflationary Model
Binance founder Changpeng CZ Zhao responded directly to Altcoin Sherpa’s analysis with detailed commentary on BNB’s market dynamics. CZ stated, “Many projects have a market maker. BNB doesn’t.”
CZ differentiated the token from competitors, relying on trading firms to maintain liquidity and price support.
The comment addresses persistent speculation about coordinated buying supporting the rally.
CZ clarified that “I am not aware of any of my affiliated entities buying or selling BNB in the past days/weeks.” He directly addressed concerns about insider trading or coordinated manipulation.
The Binance founder attributed BNB’s strength to three factors: “BNB has builders. BNB has a community. BNB is deflationary.”
BNB’s burn mechanism involves quarterly token burns based on trading volume and other metrics. The deflationary model creates scarcity, supporting long-term price appreciation.
Hyperliquid Founder Criticizes CEX Liquidation Transparency
Amid the BNB price surge, Hyperliquid founder Jeff posted extensive criticism of centralized exchange liquidation reporting practices and singled out Binance among others.
Jeff stated, “Hyperliquid’s fully on-chain liquidations cannot be compared with underreported CEX liquidations,” contrasting decentralized exchange transparency with centralized venue practices.
The comments came amid scrutiny of recent market volatility and liquidation cascades.
Jeff explained that “Hyperliquid is a blockchain where every order, trade, and liquidation happens on-chain.
Anyone can permissionlessly verify the chain’s execution, including all liquidations and their fair execution for all users.”
The criticism intensified with specific allegations where he stated that some CEXs publicly document that they dramatically underreport user liquidations.
He also cited the example of Binance, where he mentioned, “If there are thousands of liquidation orders in the same second, only one is reported.”
The claim suggests Binance and other centralized venues show only aggregated liquidation events rather than individual user liquidations.
This has sparked widespread discussions in the market, while raising questions over its impact on BNB price.
Meanwhile, Jeff estimated the reporting discrepancy could represent 100x under-reporting under some conditions, given that “liquidations happen in bursts.”
The allegation raises questions about market transparency and whether traders have accurate information about liquidation activity.
Prominent trader known as The White Whale, who reportedly lost over $62 million during recent volatility, responded to Jeff’s post.
The trader stated, “As someone who until 48 hours ago was in the top ten list of all-time profitable traders on HyperLiquid…just a suggestion.”
The White Whale recommended Hyperliquid to create a form of false wick liquidation protection for your users, like Drift Protocol does.