• BNB Chain’s network activity declined alongside its price. 
• Most market indicators remained bearish on the BNB Chain. 

BNB Chain [BNB] was recently thrust into the limelight as its CEO, Changpeng Zhao (CZ), submitted his resignation as part of the $4 billion settlement between United States regulators.

This episode triggered a price decline, causing BNB to shed a lot of its value. However, whales used the opportunity to increase their accumulation.

Moreover, as per AMBCrypto’s analysis of Santiment’s chart, this incident made BNB a topic of discussion in the crypto community, evident from its spike in Social Dominance. But most mentions were not in BNB’s favor, as its negative sentiment increased.

BNB Chain in a crisis?

The blockchain’s network activity also took a blow after this incident. AMBCrypto’s also assessed Artemis’ data and found that BNB Chain’s Daily Active Addresses and Daily Transactions dropped over the last few days.

Its performance in the DeFi space also declined, as its TVL fell in the recent past.

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Author: Dipayan Mitra

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