Binance CEO Changpeng Zhao has expressed his positive outlook on the price of Ethereum, citing the record high amount of ETH locked on the Beacon Chain. However, the current ETH price is trading below $1,850 and could potentially fall to $1,500 if it breaks the crucial support level.
Binance has announced a reduction in processing time for ETH staking withdrawals, which may put selling pressure on the ETH price. Despite this, Zhao believes that Ethereum's recent growth is due to the increasing adoption of DeFi applications and expects it to continue performing well in the future.
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