Santiment recently shortlisted Binance Smart Chain’s BNB as one of the altcoins still receiving significant attention. In other words, it is a good candidate for traders looking for decent price movements under recent market conditions.
The analysis was based on the level of social activity that BNB and other shortlisted counterparts have been achieving. This was despite BNB’s social dominance dip over the last three months. Both, BNB’s social dominance and social volume tanked significantly in the second week of June.The dip in the social metrics coincided with the spike in BTC dominance. Nevertheless, its social dominance was seen as more active than most altcoins.
Meanwhile, the Market Value to Realized Value ratio was seen rising, especially, since the end of June, and a sudden spike managed to push it to a new monthly high.The MVRV ratio’s recent uptick confirmed a sudden surge in profitability for BNB holders. Interestingly, BNB’s volume does not indicate a large spike during this period. This suggested that whales might be the ones buying BNB.achieved a healthy 13% bounce from its lowest price point in the last seven days to its highest point.
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