BNB Chain had a total of 4.32 million active users and registered 22.94 million transactions during the week, with an average of 3.82 million transactions daily. What do these numbers mean for BNB?
BNB Chain’s robust user activity, coupled with dApp growth, should, in theory, make for a strong BNB cryptocurrency. However, BNB’s latest performance suggested that it was heavily influenced by the overall market conditions.exchanged hands at $242.7 at press time. It has been in a slightly ascending range since around mid-June after experiencing a dip at the end of May. The sell pressure that prevailed since mid-July almost pushed for a retest of its short-term ascending support.
The above price chart confirmed that BNB was struggling to bounce back from this range. Nevertheless, the press time price level was characterized by low volume, and the daily trading USD volume slid significantly in the last few days.On the other hand, some data also showed that accumulation was taking place, and traders were willing to HODL. For example, the mean coin age has been on an upward trajectory for the last four weeks..
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