Binance Founder Proposes Major Reduction in BSC Chain Gas Fees
Changpeng ’CZ’ Zhao, the founder of Binance, has proposed a significant reduction in gas fees on the Binance Smart Chain (BSC), suggesting a cut of three to ten times the current levels. This move comes as the network’s average gas price stands at 2.163 Gwei, marking a 41.4% decline from the previous year. The proposal, shared via social media, aims to enhance the affordability and scalability of the BSC Chain, which operates on a fee structure similar to Ethereum’s. The reduction could potentially attract more developers and users to the platform, further solidifying Binance’s position in the competitive blockchain space.
Binance Founder Proposes Significant Reduction in BSC Chain Gas Fees
Changpeng ’CZ’ Zhao, founder of Binance, has floated a proposal to slash gas fees on the BSC Chain by three to ten times their current levels. The suggestion, made via a social media post, comes as the network’s average gas price hovers at 2.163 Gwei—a 41.4% decline from last year’s figures.
BSC Chain’s gas fees, denominated in Gwei (equivalent to 0.000000001 BNB), function similarly to Ethereum’s fee structure. The potential reduction could dramatically alter transaction economics for developers and users alike. market data shows sustained downward pressure on fees, with yesterday’s average already 3.91% lower than previous readings.
Binance to Suspend Deposits and Withdrawals for Certain Tokens Ahead of Ethereum Upgrade
Cryptocurrency exchange Binance will temporarily halt deposits and withdrawals for select tokens on May 7, 2025, starting around 09:45 UTC. The suspension aims to facilitate the Ethereum network upgrade and hard fork, ensuring a seamless user experience during the transition.
Affected networks include Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO), and Worldcoin (WLD). Binance’s proactive measure underscores its commitment to maintaining operational stability amid major blockchain upgrades.
