đ3 Reasons to Buy BNB Coin Before Binance Founder CZâs Releaseđš
The anticipated release of Binance founder Changpeng Zhao from prison could enhance bullish sentiment surrounding the BNB coin. A breakout above the $600 neckline resistance of the inverted head and shoulders (IHS) pattern could potentially lead to a 20% price increase. On September 29, 2024, Zhao will complete his four-month sentence at Long Beach RRM in San Pedro, California. Here are three compelling reasons to consider investing in BNB coin.
### Bohr Hard Fork: A Major Upgrade for BNB Smart Chain
The upcoming Bohr hard fork is poised to significantly improve the efficiency and scalability of the BNB Smart Chain. Scheduled for implementation on September 29, the upgrade will introduce four new Binance Chain Evolution Proposals (BEPs):
- **BEP 341**: Allows validators to produce consecutive blocks.
- **BEP 402**: Completes missing fields in block headers for signature generation.
- **BEP 404**: Clears miner history during validator set changes.
- **BEP 410**: Introduces an agent for validators.
Among these, BEP 341 is crucial, as it transitions from a single-slot system to enable consecutive block production, which will greatly enhance block processing speed and improve user and developer experiences.
### Surge in BNB Coin Futures: Open Interest Rises
BNB coin is witnessing a revival in futures market activity, with open interest increasing by 28% over the past two weeks, rising from $460 million to $589 million, according to Coinglass data. This surge in open interest reflects growing market confidence, indicating that more traders are engaging with BNB futures, leading to increased capital flow into the asset.
### Breakout from Reversal Pattern
Recently, the BNB coin has demonstrated a robust V-shaped recovery, climbing from $471 to $596âa 27% increase over the last three weeks. A closer examination of the daily chart reveals that this recovery has formed a classic reversal pattern known as the inverted head and shoulders.
