Binance Founder CZ on BNB's Price Performance
CZ, the founder of Binance, has addressed the recent strong price performance of BNB, stating that its strength lies in its builders, community, and deflationary design.
Many projects have a market maker.
CZ emphasized that BNB's ecosystem is different, as it does not rely on external market makers to support its price. He also clarified that none of his affiliated entities had bought or sold BNB in recent weeks, reinforcing confidence that the token's movement is entirely market-driven.
The success of BNB can be attributed to its builders, community, and deflationary design, according to CZ. This focus on market integrity and user protection is consistent with Binance's values, as seen in their recent pledge to compensate users after the USDe depeg.
Despite Friday's crypto market crash, BNB's price remained above $1,100, demonstrating its stability and resilience.
Author's summary: BNB's strength comes from its community and design.
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