Binance’s Bold Move: BNB Chain Gas Fees Set to Drop 90%, Challenging Ethereum and Solana Dominance

In a strategic play to disrupt the Layer-1 blockchain arena, Binance founder Changpeng Zhao (CZ) has proposed slashing BNB Chain’s gas fees by up to 90%. This aggressive reduction—potentially making transactions 10x cheaper—directly targets Ethereum’s scalability issues and undercuts Solana’s low-fee appeal. Announced on May 7, 2025, the move could reshape DeFi dynamics by positioning BNB Chain as a cost-efficient alternative for developers and users. The proposal arrives amid intensifying competition among smart contract platforms, with Binance leveraging its ecosystem to challenge incumbents. While technical implementation details remain undisclosed, the market anticipates ripple effects across NFT minting, dApp migration trends, and institutional blockchain adoption. This fee structure overhaul demonstrates Binance’s commitment to making BNB Chain a top contender in the trilemma of scalability, affordability, and security.

Changpeng Zhao May Slash BNB Chain Gas Fees by 10x; Rivals Solana, Ethereum At Risk?

Binance founder Changpeng Zhao is proposing a drastic reduction in BNB Chain gas fees, potentially lowering them by up to tenfold. This move directly targets Ethereum’s high transaction costs and Solana’s low-fee advantage, positioning BNB Chain as a more competitive player in the decentralized finance space.

The fee cut could significantly alter the Layer-1 blockchain landscape, where Ethereum and Solana currently dominate. With Binance Smart Chain already processing billions of transactions daily, this adjustment may accelerate its adoption and challenge the market positions of both Ethereum and Solana.

High gas fees have long been a pain point across the cryptocurrency ecosystem, particularly on Ethereum. Zhao’s proposal underscores Binance’s aggressive strategy to capture greater market share by addressing one of the sector’s most persistent usability issues.

Standard Chartered Predicts BNB Could Reach $2,800 by 2028

Standard Chartered Bank has made a bold prediction for Binance Coin (BNB), suggesting it could surge to $2,800 by 2028. At its current trading price of $604.8, this would represent a nearly fivefold increase—a projection that has sparked both skepticism and intrigue.

The bank’s forecast hinges on Binance’s expanding ecosystem and its dominance in crypto trading volume. While such targets may seem ambitious, institutional interest in BNB’s utility—from fee discounts to decentralized applications—adds credence to the long-term thesis.