BNB has climbed as the transaction activity activity and the DEX volume lead to $ 100B
The Binance Coin (BNB) has climbed in the last 24 hours even though geopolitical tensions have been stealing the markets, driven by the BNB chain use, which recorded more than 16 million transactions a day earlier this month.
The figure of that transaction marks a massive jump when from near 4 million transactions a day processed earlier in the year, according to Nansen data.
Pancakeswap, the main decentralized network exchange, plays a major role in $ 2.7 Billion in the sun -day volume. In combination -Sew, BSC held more than $ 104 billion in Dex volume last month, exceeding both Solana and Ethereum, according to Defillama Data.
This growth has helped the BNB push through volatility that has been sparkled between Israel and Iran, temporarily dragging Bitcoin to under $ 104,000.
BNB saw strong interest in buying throughout the day, holding steady at the level of $ 646 and leading $ 658. That strength was that -backing by unusual high volume and what an institutional interest emerging.
Technically, BNB benefits from a string of higher lows, a sign of an uptrend of the building, according to the technical review model of CoinDesk’s technical research. The analysts are also directed at the constant in the upper-average volume, suggesting more than the retail enthusiasm.
Open interest BNB derivatives fell 6.9% weeks-to-week up to $ 750 million, which signed custody to entrepreneurs. However the wider fear and greed index is sitting in a 51 neutral, suggesting that the bearish has not tapped the bearish despite the geopolitical jitters.
Depression: The parts of this article are formed with the help from the AI tools and our editorial group reviewed to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s entire AI policy.
