Binance Co-founder Changpeng Zhao (CZ) Donates 500 BNB to Aid Earthquake Relief in Thailand and Myanmar

March 31, 2025 – In a significant humanitarian gesture, Binance co-founder Changpeng Zhao (CZ) has donated 500 BNB to aid relief efforts in Thailand and Myanmar following a devastating 7.7-magnitude earthquake.

Changpeng Zhao, the co-founder of Binance, has donated 500 BNB to aid relief efforts in Thailand and Myanmar following a devastating 7.7-magnitude earthquake, according to reports on March 31.

The natural disaster, which has claimed 144 lives, has sparked swift action from crypto leaders and organizations.

This donation not only underscores crypto’s growing role in disaster relief but also coincides with a notable price surge in Binance Coin (BNB), adding another dimension to the evolving influence of digital assets in real-world scenarios.

BNB’s Price Shows 2% Increase Following Critical Resistance Rejection

Following the news of Zhao’s donation, BNB, the native token of Binance exchange, experienced a 2% price increase as it encountered rejection at the critical $608 resistance level.

The lack of ability to break above this key level suggests that while bulls are active and pushing for higher prices, there is still some selling pressure to be cleared at this point.

However, recent market sentiment surrounding Binance Coin has shifted, with several technical and on-chain indicators flashing bullish signals.

Technical Indicators Highlight Potential For BNB Rally

Investors are closely monitoring BNB’s price action and technical indicators for signs of the expected crypto market rally in 2024.

On-chain data from Unchained Derivatives suggests that several technical indicators are flashing bullish signals for BNB.

The Binance Coin price crossed above the 200-week moving average last week, which is a significant technical indicator that often signals a long-term bullish trend.

Moreover, the weekly Relative Strength Index (RSI) also moved above the 50 neutral mark, indicating that the buyers have more immediate control over the price.

Liquidation Data Shows Massive Liquidation Orders At Key Levels

A closer look at liquidation data from Coinglass reveals additional bullish sentiment surrounding BNB.

According to AMBCrypto’s analysis on Coinglass data, around $5.87 million worth of BNB is set for liquidation at the $648 price level.

This indicates that if the price drops to this level, a large amount of traders’ positions will be closed, which could put further downward pressure on the token.

However, the fact that such a massive liquidation order is pending at a relatively high price level suggests that there is strong belief in a potential rebound or rally for BNB.

Why Liquidation Levels Are Important

It is crucial to understand that when an asset price reaches a liquidation level, it does not necessarily mean that the entire market will crash.

Instead, these levels highlight specific price points where traders and investors could face significant losses if the market moves against their positions.

In the crypto market, where leveraged trading is prevalent, traders often borrow funds to amplify their returns. However, if the market moves against them, they could be liquidated, which means that their positions are closed by the exchange to limit further losses.

The Expanding Role Of Crypto In Disaster Relief

Zhao’s donation is part of a broader trend where cryptocurrency is increasingly being used for humanitarian aid in response to natural disasters.

Unlike traditional donation methods, which can be slow and inefficient, crypto transactions are known for their speed, transparency, and direct transfer to the intended recipient, making it a suitable tool for rapid crisis response.

Binance has been at the forefront of promoting crypto-based social impact initiatives.

The latest donation not only contributes to relief efforts in Thailand and Myanmar but also reinforces public trust in crypto’s ability to solve real-world problems.

This initiative follows a previous instance in January where Binance raised and donated $10 million in crypto to aid Turkiye and Syria following a devastating earthquake.

Future Outlook: Can BNB Sustain Its Rally?

In the coming days, investors will be watching to see if BNB can sustain its rally and break above the strong resistance at the $608 level.

If the bulls manage to push through this key point, it could open the way for further gains towards the next resistance zone, which is highlighted in the chart above.

However, if the sellers return and drive the price down below the support at the $590 level, it could indicate a weakness in the bullish trend.

Overall, with strong technical support, growing adoption, and a bullish market structure, Binance Coin appears poised for potential further gains.

However, investors should remain cautious and keep a close eye on key resistance and support levels to manage risks effectively.

Key Levels To Watch

As the crypto industry continues to evolve, its role in disaster management, humanitarian aid, and financial inclusion will likely expand, making digital assets an indispensable tool in global crisis response.