Binance Founder Changpeng Zhao (CZ) Shares His Portfolio, Showing an Overwhelming Allocation to Binance Coin (BNB)

His Binance account holds 98.5% in BNB and 1.5% in Bitcoin (BTC). This portfolio structure clearly shows his confidence in the BNB ecosystem.

Binance founder Changpeng Zhao (CZ) recently shared his portfolio, revealing an overwhelming allocation to Binance Coin (BNB). According to the Binance account snapshot, 98.5% of his holdings are in BNB, while 1.5% is allocated to Bitcoin (BTC). This portfolio structure showcases his strong confidence in the BNB ecosystem.

However, it's important to note that CZ likely holds substantial amounts of other BNB-related tokens, such as Trust Wallet Token (TWT), PancakeSwap (CAKE), and Test Token (TST), in different accounts. His strategic positioning suggests a deep faith in Binance's long-term growth and the vitality of its ecosystem.

BNB Price Struggles to Maintain Support

At the time of writing, BNB is trading at $636.78, reflecting a 2.62% decrease over the past 24 hours. The market capitalization is at $90.72 billion, also down by 2.63%. Additionally, the trading volume has decreased by 11.20%, indicating less market participation.

BNB Faces Bearish Pressure, Support at $630 in Sight

Initially, the price attempted to stabilize after peaking at $653.65, but a sharp sell-off occurred, leading to the downtrend. The price struggles to stay above key support levels amid bearish sentiment. If this trend continues, BNB could test the $630 support level, while resistance remains near $655.

Bitcoin Price Drops Despite Trading Volume Surge

BTC is also experiencing a price decline, falling to $94,587.59, down 1.15% in the last 24 hours. Interestingly, trading volume surged by 83.05%, indicating heightened investor activity in the market.

The price initially tried to rally, peaking at $95,710 before being turned away and reversing downward. Strong volatility is evident, as BTC moves back and forth between gains and losses. Key resistance levels are around $95,710 and $96,500, while support at $94,000 and $93,500 could determine the next price movement. If BTC fails to hold support, further downside toward $92,500 is likely.

BNB Ecosystem Tokens Mirror Bearish Sentiment

The BNB ecosystem tokens are presenting mixed performances. Trust Wallet Token (TWT) is trading at $1.01, down 2.97%, while its trading volume has increased by 17.66%.

TWT Price Downtrend, $1 Support Level Vulnerable

The price tested resistance at $1.04 before getting turned back, leading to a downtrend. If support at $1.00 fails, further downside to $0.99 or $0.95s is possible.

CAKE Price Decline Steeper, Market Interest Wanes

PancakeSwap (CAKE) has seen a sharper decline, currently priced at $2.34 after falling 5.17% in 24 hours. Trading volume has fallen sharply by 62.69%, indicating lower market participation.

CAKE is getting close to its immediate support at $2.32, and if it fails to hold, further declines toward $2.25 are expected. Resistance remains at $2.48 and $2.50.

TST Plummets, Buyer Interest Dries Up

Test Token (TST) has suffered the most significant drop, plunging 21.89% to $0.08735. Trading volume has dropped significantly by 68.55%, reflecting reduced buyer interest.

The price is still trending downward, with no strong rebound attempts. If TST breaks below $0.085, further losses toward $0.080 could follow.

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