Changpeng Zhao Donates 500 BNB for Myanmar-Thailand Earthquake Relief – Will BNB Drop to $600?

Binance co-founder Changpeng “CZ” Zhao is donating 500 BNB each to Thailand and Myanmar to fund earthquake aid efforts. The donation valued at over $306,000 is meant to help those affected by the disaster. CZ initially inquired about an on-chain transparent donation system with a decentralized identity (DID). Later confirmed that Binance Charity and Binance Thailand would handle the distribution. This move shows the growing role of crypto in disaster relief efforts. This raises questions about how such donations influence BNB prices in the crypto market.

Myanmar-Thailand Earthquake: CZ Steps Up for Disaster Relief

A 7.7-magnitude earthquake on March 28 devastated Mandalay, Myanmar. It caused massive destruction over 1,000 people died and 2,400 were injured with buildings and bridges crumbling. Tremors caused a high-rise in Bangkok, Thailand, to collapse, killing at least 10 people and leaving 100 others missing. The disaster drew a global response with aid pouring in to assist affected regions.

In response to the recent earthquake that struck Thailand and Myanmar, Changpeng Zhao announced a 500 BNB donation per country. He first asked the crypto community whether a transparent on-chain donation system with DID existed, indicating his preference for a blockchain-based tracking mechanism.

Since no suitable system was identified, he stated that Binance and Binance Thailand would ensure the funds reach the right channels. The donation, worth over $306,000, is part of Binance’s ongoing efforts to use crypto for humanitarian purposes. Binance Charity has previously facilitated relief operations using blockchain technology. While ensuring transparent and efficient fund distribution. This latest initiative demonstrates how cryptocurrencies like BNB can play a vital role in global philanthropy, providing fast and secure funding during crises.

BNB Price Drops Below $616 Support

Following Changpeng Zhao announcement on March 28th, the BNB Price continued its bearish momentum, extending the downward trend from previous days. The death cross at 00:30 UTC and an overbought RSI at 4:50 UTC fueled selling pressure. Bears pushed the price down to $634.01, where it met resistance at 11:50 UTC. A strong downward trend began at 12:20 UTC, with multiple oversold RSI signals at 14:05 UTC, 17:05 UTC, 19:55 UTC, and 21:00 UTC. The price found support at $616, leading to a golden cross at 21:20 UTC, triggering a bullish reversal. 

Chart 1, analyzed by ShwetaCW, published on TradingView, March 29, 2025

The price surged into March 29th, reaching an overbought level at 00:42 UTC. However, bears regained control with a death cross on the MACD line at 1:00 UTC, leading to a break below $616 support at 2:40 UTC. With continued oversold conditions at 5:30 UTC, further bearish momentum could push the price toward $600. However, if bulls regain control, BNB Price could reclaim $616 as support and rally toward $634.01. Binance Price Prediction suggests a crucial retest at these levels before a clearer trend emerges.

BNB Price Prediction After Changpeng Zhao’s Donation

Changpeng Zhao 500 BNB donation to Thailand and Myanmar has brought attention to Binance Thailand and the BNB Price. However, the market remains bearish, with BNB Price breaking key support levels. If the bearish trend continues, the price could drop to $600. On the bullish side, a recovery above $616 could push it toward $634.01. Binance Price Prediction indicates that market sentiment and trading volume will play a crucial role in the next move. Traders should watch resistance and support levels closely as volatility remains high following this major announcement.