Key Takeaways

BNB held strong despite a pullback from $900, with Active Addresses, transactions, and Futures metrics showing resilient demand across the chain.

The Binance network saw massive gains throughout August, with Binance Coin [BNB] recording a new all-time high of $900. Since then, it retraced for four straight sessions, slipping to $854 at press time. 

Despite the pullback, BNB stayed in a long-term ascending channel, suggesting a bullish structure with routine corrections.

But what’s behind the altcoin’s resilience?

Demand for BNB Chain at record high 

Notably, usage of BNB Chain surged sharply over the past four months.

According to analyst Darkfost, the network’s Active Addresses have more than doubled since April, now fluctuating between 2 million and 2.5 million transactions daily, with spikes reaching 3 million. 

Importantly, most of these addresses were Returning Users, with Artemis data showing 1.5 million retained and 1.8 million new accounts.