The number of active users of BNB increased considerably last week. However, market indicators suggested a further price drop. Token Terminal’s data revealed that Binance Coin’s [BNB] fees and revenue have been on a constant uptrend over the last few weeks. The credit for this can go to the average daily transactions conducted on the […]
Despite growth in the aforementioned areas, BNB’s NFT marketplace’s performance was not satisfactory. Dune’sA similar trend was also pointed out by Santiment’s chart, as BNB’s total NFT trade counts and trade volume in USD declined over the last 30 days.Though BNB Chain’s performance looked optimistic, the opposite was true for its price. A look at BNB’s daily chart revealed that the sellers were leading the market and might push BNB’s price further down.
The Exponential Moving Average Ribbon displayed the possibility of a bearish crossover, which was a concerning factor. At press time, BNB was down by 1.65% in the last 24 hours and was
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