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CZ Reveals BNB Holdings, BROCCOLI Meme Coin Spikes

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After Binance co-founder Changpeng “CZ” Zhao revealed his personal portfolio, BROCCOLI, a meme coin built on BNB, spiked nearly 33%.

Although this asset spiked, BNB’s own altcoin actually went down. This is likely because CZ’s substantial holdings were common knowledge.

CZ Reveals Substantial BNB Holdings

Changpeng “CZ” Zhao, the former CEO and co-founder of Binance, is impacting the market with his portfolio holdings. Recently, he caused a meme coin to rally after claiming he had little experience with DEX trades and caused a flood of BROCCOLI tokens when he revealed the name of his dog.

Today, however, CZ displayed his wallet holdings, which are over 98% in BNB.

Binance Co-Founder CZ’s Crypto Portfolio. Source: X (formerly Twitter)

This has had a few bizarre impacts on the market. Zhao holds 1.32% in BTC, 0.17% in EURI, a euro-pegged stablecoin that he got from using the Binance Card, and 0.03% in USDT.

Even though CZ’s personal holdings overwhelmingly consist of one asset, BNB’s price hasn’t actually gone up. Quite the opposite; it’s actually declined since his posts went live.

At first glance, this doesn’t make much sense. CZ’s public statements have had a previous bullish impact on the price of BNB, including one solid example earlier this month.

However, the token is currently undergoing bearish market pressure, and his comments can’t reverse it. More to the point, it was already broadly known that CZ maintains significant holdings:

“Researchers spent months trying to pin down exactly how much BNB Changpeng Zhao actually owns. It is 64% of the entire supply, with a nominal value of $56 billion,” Forbes reported in June of last year.

In other words, the community already knew that CZ held a lot of BNB tokens. The only revelation is that he maintained these holdings without substantial investment in any other cryptoasset.

However, one BNB project actually benefitted from the social media buzz. BROCCOLI, a meme coin named after CZ’s dog, rallied nearly 33% today.

broccoli meme coin price
BROCCOLI Meme Coin Daily Price Chart. Source: GeckoTerminal

BROCCOLI is just one of many meme coins named after the dog, several of which are fiercely competing for attention. Previously, CZ claimed that he “will likely interact with a few of the more popular [Broccoli-based] meme coins on BNB Chain,” and this project fits the bill.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Settles Lower—Will Sellers Push It Further Down?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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VANA Token Jumps 35% on YZi Labs Backing & CZ Advisory Role

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Vana (VANA) price surged during the early hours of the Asian session on Tuesday in response to reports that YZi Labs (formerly Binance Labs) was investing in the platform.

Vana is a pioneering crypto-AI startup focused on data ownership. Its decentralized Layer-1 (L1) blockchain was designed to give users control over their data. 

YZi Labs Invests in Vana With CZ As Advisor

According to BeInCrypto data, the VANA token was up by almost 35% to trade for $8.37 as of this writing.

VANA Price Performance
VANA Price Performance. Source: BeInCrypto

The surge follows YZi Labs’ decision to invest in Vana, marking its first AI investment since rebranding from Binance Labs. According to YZi Labs, the investment marks the first step in unlocking AI’s next frontier.

“YZi Labs has expanded its focus beyond Web3 to include investments in AI and biotech, reflecting our commitment to pushing the boundaries of transformative innovation,” said Andy Chang, Investment Director at YZi Labs.

Vana confirmed the investment in a post on X (Twitter), indicating Binance founder Changpeng Zhao’s (CZ) involvement. According to the announcement, CZ will advise the pioneering crypto-AI startup.

“We’re thrilled to announce YZi Labs strategic investment in Vana and to welcome CZ as an Advisor as we advance the Data Layer for AI alongside our expanding DataDAO ecosystem,” read the announcement.

Notably, details on the investment structure and valuation after the round remain undisclosed. According to Vana founder Anna Kazlauskas, they completed the round in January, with YZi Labs as the sole investor.

Before this funding round, Vana had raised $25 million from leading funds such as Paradigm, Coinbase Ventures, and Polychain Capital. With the new funding from YZi Labs, Vana aims to expand the DataDAO ecosystem.

It will launch Data Tokens for over 16 DataDAOs and attract more data contributors. Vana will also support multiple new DataDAOs and broaden the application of data financialization.

The backing of YZi Labs and CZ could make Vana a notable player in the AI and blockchain spaces. Data ownership is becoming an increasingly central issue in the tech industry.

As BeInCrypto previously reported, Binance Labs’ rebranding to YZi Labs made it an independent entity. However, it also enabled CZ to participate actively in its operations. The move was a skillful maneuver to sidestep his lifetime ban from working at Binance.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Dogecoin (DOGE) Nosedives Toward $0.20—More Pain Ahead?

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Dogecoin started a fresh decline below the $0.250 zone against the US Dollar. DOGE tested $0.2050 is now consolidating below the $0.2250 resistance.

  • DOGE price started a fresh decline below the $0.260 and $0.250 levels.
  • The price is trading below the $0.2380 level and the 100-hourly simple moving average.
  • There is a connecting bearish trend line forming with resistance at $0.2180 on the hourly chart of the DOGE/USD pair (data source from Kraken).
  • The price could start a recovery if it clears the $0.2180 and $0.2200 resistance levels.

Dogecoin Price Dips Over 5%

Dogecoin price started a fresh decline below the $0.2650 zone, unlike Bitcoin and Ethereum. DOGE dipped below the $0.260 and $0.250 support levels. It even spiked below $0.2150.

A low was formed at $0.2052 and the price is now consolidating losses. There was a move above the $0.2080 level, but the price remained below the 23.6% Fib retracement level of the downward move from the $0.2609 swing high to the $0.2052 low.

Dogecoin price is now trading below the $0.2250 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2150 level. The first major resistance for the bulls could be near the $0.2180 level.

There is also a connecting bearish trend line forming with resistance at $0.2180 on the hourly chart of the DOGE/USD pair. The next major resistance is near the $0.2250 level.

Dogecoin Price

A close above the $0.2250 resistance might send the price toward the $0.2330 resistance and the 50% Fib retracement level of the downward move from the $0.2609 swing high to the $0.2052 low. Any more gains might send the price toward the $0.250 level. The next major stop for the bulls might be $0.2620.

More Losses In DOGE?

If DOGE’s price fails to climb above the $0.2180 level, it could start another decline. Initial support on the downside is near the $0.2065 level. The next major support is near the $0.2050 level.

The main support sits at $0.20. If there is a downside break below the $0.20 support, the price could decline further. In the stated case, the price might decline toward the $0.1880 level or even $0.1740 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.2050 and $0.2000.

Major Resistance Levels – $0.2180 and $0.2250.



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