Binance BNB Chain stands out for its extraordinary resilience despite increasing regulatory pressure around the world. Considering the current situation, especially in Nigeria, it seems that the world’s largest cryptocurrency exchange has not paused, although the price of BNB has stabilized and even shows some signs of growth.
It is stated that while Bitcoin consolidates around $ 66,000, BNB may exceed $ 600 and retest the upper resistance levels soon. Last week, after some technical analysis, there was a significant revival in the BNB price, indicating that the token is trending towards gaining momentum.
A recent analysis by Coin98 Analytics found that BinanceCoin impressive progress in the price in the first quarter of 2024 It shows what it shows.
@BNBCHAIN Q1 2024 Financial Report
NEWS CONTINUES BELOWAll income statement indicators in Q1 showed impressive growth of over 70% compared to the previous quarter$BNB Trading Volume increased by 2.3 times QoQ and 2.8 times YoY
Over 113M $BNB token holders in Q1#BNB $BNB pic.twitter.com/HsnuUGRJ7n
NEWS CONTINUES BELOW— Coin98 Analytics (@Coin98Analytics) April 4, 2024
Detailed analysis by Coin98 Analytics clearly revealed significant growth in key indicators in the first quarter. Each metric increased by over 70% from the previous quarter. In particular, BNB’s trading volume increased significantly, clearly reflecting increased investor interest and confidence.
Additionally, the number of Binance Coin holders exceeded 113 million, indicating a growing and strengthening community behind the platform. This shows that demand for Binance’s services is increasing and BNB is increasingly adopted among users.
A more detailed look at network metrics shows a steady upward trend in Binance (BNB) Chain’s active users, with over 1.3 million addresses interacting daily. This was accompanied by the creation of more than 22 million new addresses in the first quarter, which was a significant transaction volume and included approximately 378 million transactions. These statistics highlight the growing level of interest and acceptance of the platform.
The report also noted that Binance Chain reflects increasing trust and usage, with Total Value Locked (TVL) exceeding $6.3 billion at the end of Q1.
Apart from financial strength, BNB Chain also plays an influential role in the Non-Fungible Token (NFT) industry. The creation of more than 9.7 million NFTs and a threefold increase in sales volume reinforces BNB Chain’s position as a hub for creative expression and digital asset trading.
In short, despite regulatory challenges, BNB’s resilience and Binance Chain’s impressive performance in the first quarter of 2024 clearly demonstrate the strength of the platform.
