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Binance flips Solana on THIS front – What next BNB’s price?

Press Releases Crypto News AMB-Crypto Binance flips Solana on THIS front – What next BNB’s price?

BNB Chain has flipped Solana to emerge as the leading network with 5.1 million daily active addresses.
The rising network usage could bode well for BNB after the token flipped resistance at the 200-day EMA.

Binance Coin [BNB], at press time, was trading at $637 with a market capitalization of $90 billion. The altcoin had gained by 5% in 24 hours, bringing its weekly gains to nearly 10%.

While the recent gains have coincided with a bullish sentiment across the broader cryptocurrency market, rising activity on BNB Chain could sustain a long-term uptrend.

BNB Chain’s daily active addresses hit 5M

According to TokenTerminal, the number of daily active addresses on BNB Chain has surged to 5.1 million, significantly higher than Solana’s 4.2 million.

In fact, the blockchain ranked first among layer one and layer two networks by address count.

Source: TokenTerminal

If the number of daily active addresses is increasing, it shows that more users are joining the network, which could bolster demand for the token.

Moreover, former Binance CEO, Changpeng Zhao, has hinted at an upcoming upgrade on BNB Chain. In an X (formerly Twitter) post, Zhao noted that the upgrade was “in the works.”

Network upgrades are meant to boost network scalability and usage. Therefore, this upcoming upgrade could bode well for the BNB token.

Rising network activity could fuel the rally

Data from DappRadar shows dApp volumes on BNB Chain surged 42% in the last 30 days to $52 billion. During the same time, the transaction count increased by 43% to 21 million.

Besides rising dApp activity, the stablecoin market capitalizati

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Author: Muthoni Mary

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