Daily active users on the BNB chain eclipsed other popular chains. The number of dApps integrated into BNB was the highest among all chains. Binance Chain’s [BNB] network growth continued to record impressive numbers. According to a tweet by Token Terminal on 20 January, the daily active users on the chain hit almost 778,000. This […]
Additional data pointed out that the daily active users for BNB have shot up by 10% in the last six months, at the peak of the crypto bear market. Conversely, the users for ETH in the same time period have plummeted by 14%.On the daily timeframe, BNB broke out of the range on 4 January to commence its bullish run, during which it gained 22%. However, it has faced stiff resistance at $303. BNB breached this ceiling in November 2022 but faced rejection soon after.
The Relative Strength Index steadily descended from the overbought zone, implying that sellers could control the market. The reading from the Moving Average Convergence Divergence showed that a bearish crossover could be on the cards, which could weaken buying activity.On-chain data from Santiment implied that the network was profitable to BNB holders because of the high MVRV ratio.
Interest among whales reached its monthly peak on 20 January, suggesting that lucrativeness of BNB was not lost out on big addresses. On the other hand, NFT sales volume has plunged sharply in the last two days until press time.
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