BNB Breakout More than $ 1.1k leaves Bitcoin, Dogecoin back, with ecosystem tokens dedicated
BNB’s pushing above $ 1,100 has changed attention to the native BNB chain names, with investors rotating in protocols getting on-chain fees and activities.
Network activity has increased slightly due to Binance founder Changpeng Zhao recently endorseing BNB chain projects, which brings new attention to the fifth rank of market capitalization token of the market capitalization.
Participants in the crypto market often tend to provide an ecosystem when the base asset is up higher, with liquidity that tends to stay within that sector. Protocols collecting fees and route orders tend to move first, followed by memecoins and then less known basic plays.
The pancakeswap cake jumps almost 30% in the past 24 hours, a move that usually coincides with deeper liquidity in the core pools and lighter spreads to the main pairs.
The newer tokens also get bids: Aster Rose about 18%, reflecting the search for increased beta exposure as BNB’s advancement.
Conversely, meme tokens such as Floki and Simon’s Cat (CAT) have not yet significantly responded, suggesting entrepreneurs who prioritize utility and cash-flow accounts before the meme-driven bets.
BNB took the $ 1,100 area after multiple attempts and held the level by US hours, a sign that the place demanded rather than the seizure was driving the move.
Meanwhile, futures tied to BNB racked over $ 97 million in extermination over 24 hours, coinglass data shows, second only to ether-related bets.
However, the total amount of locked assets in the BNB chain ecosystem Rose a little 2% In the past 24 hours despite the increase in the BNB market-a sign that traders have not provided for long-term financial play in the network beyond the token.
For example, Pancakeswap pocketed more than $ 1.3 million in trading fees in the past 24 hours, below average more than $ 5 million in July, Data displays.
