Active Users on BNB Chain is Gaining Momentum: Will BNB Price Rise?

  • BNB Chain has recently achieved a significant milestone by surpassing well-known chains like Bitcoin (BTC) and Ethereum (ETH) in terms of daily user activity.
  • Data reveals that BNB Chain has impressively surpassed 1 million daily active users, which serves as evidence of the platform’s increasing popularity and appeal.
  • Currently trading at $252, BNB experienced a 1% decrease in the last 24 hours but quickly recovered with a more than 6% increase in the past week.

The number of daily active users on BNB Chain is increasing; BNB Chain solidifies its position in the TVL rankings.

Increasing Number of Daily Active Users on BNB Chain

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BNB Chain, the blockchain platform supporting the Binance ecosystem, has become a significant force in the crypto world, surpassing its competitors in terms of daily active users. This increase in user interaction coincided with the rise in the value of the BNB token, which recorded a continuous increase of over 5% in the past week.

BNB Chain has recently achieved a significant milestone by surpassing well-known chains like Bitcoin (BTC) and Ethereum (ETH) in terms of daily user activity. According to BNB analysis, BNB Chain has solidified its position as a strong player in the crypto world, securing the second spot.

Data reveals that BNB Chain has impressively surpassed 1 million daily active users, which serves as evidence of the platform’s increasing popularity and appeal. This significant achievement is particularly noteworthy considering the long-standing dominance of Bitcoin and Ethereum, which have traditionally held top positions in the crypto market.

active-users

The BNB token has also made a significant impact in the market. Currently trading at $252, the token experienced a 1% decrease in the last 24 hours but quickly recovered with a more than 6% increase in the past week.

BNB Chain TVL Surpasses $3.4 Billion

While BNB Chain has positioned itself as a competitive player, generating widespread excitement in the crypto market, recent data from Santiment paints a nuanced picture. Despite the impressive user base measured by daily active addresses, the excitement level appears relatively consistent without significant increases, according to Santiment’s analysis.

Examining the Total Value Locked (TVL) metric, which indicates the amount of assets held within a blockchain protocol, BNB Chain ranks third behind Ethereum and Tron. The latest data shows that the TVL for BNB Chain is approximately $3.4 billion, indicating growth potential in this area.

Similarly, the stablecoin market cap on BNB Chain has surpassed $5 billion. However, Santiment’s charts indicate that the TVL and market cap metrics do not fully reflect the growing user base of the chain. This suggests that despite having a larger number of active users, the total TVL and market cap do not entirely reflect this growth.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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