Binance Founder CZ Says “Most Altcoins Will Go to Zero,” Talks About $3,000 BNB Price Claim and Memecoins

Changpeng Zhao (CZ), founder and former CEO of cryptocurrency exchange Binance, made remarkable statements at the “BNB Chain Super Meetup” event held in Hong Kong.

In his conversation with Tron founder Justin Sun and KOL Tuao Master, CZ evaluated the current state of the crypto ecosystem and BNB's long-term vision, and made striking statements, especially about the memecoin trend.

CZ said that the current market interest has largely shifted to memecoins, “We have reached a point where we don’t even know which coin to list,” he said. However, he noted that long-term success is only possible with projects that have real users, a revenue model, and sustainable profits. “A project’s token can only gain stability if it is built on these foundations,” he said.

CZ admitted that Binance's Web3 wallet is not user-friendly, and said that competitors have gained serious advantages in this area and that the Binance team will have difficulty closing this gap in the short term.

CZ also touched on the HODLing strategy, pointing out that holding thousands of tokens is meaningless, said, “Most tokens will go to zero. Projects with real usage areas and solid foundations will gain value in the long run.”

When asked about some reports that BNB’s fair value should be above $3,000, CZ stated that these analyses come from sources that have long supported BNB, such as Hash Global. However, he said that the price is determined by the market and their main focus is to expand the usage areas of BNB.

“BNB’s value will increase as it becomes more widely used in centralized exchanges, DEXs, and on-chain applications. Some governments are in talks with us to recognize BNB as an official digital asset. We are just taking it step by step, step by step,” CZ said.

CZ, who also addressed the criticisms within the community that “BNB has turned into a retirement fund,” argued that long-term HODLers actually provide stability to the ecosystem. “The more people hold BNB, the better. These people provide resistance to the market. We should be grateful to them,” he said.

*This is not investment advice.