Here’s what’s next for BNB after a spike in its transaction volume

BNB's transaction volume rose to its highest level since the beginning of March. However, it's still uncertain if this would end in a bullish shift.

Thus, the decoupling could be an indicator of rising price momentum. Nonetheless, BNB’s price growth has been sideways and is subject to market volatility.

However, the coin’s ability to override a seven-day BTC-like 10% decrease has resulted in sustained profits for its holders. Although the daily on-chain transaction volume in profit fell to 10,300 at press time, it is noteworthy to mention that the metric skyrocketed to 1.1 million on 21 April. This hike implied that a majority of coins that passed through the BNB network moved in profit than loss. Consequently, the movePositive values for this metric infer that short-term holders have made unrealized profits. Also, the MVRV ratio serves as an indicator to determine the undervaluation of an asset or the opposite.In markets like this, a quick retracement of the MVRV ratio might act as a signal that the asset can be undervalued.

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