BNB Chain DEX trading volume fell 24% in the past week
2024-09-03 00:20
Odaily News BNB Chain's native token, BNB, fell 16.1% between August 23 and September 2, from $598.80 to $502.10. The price has now recovered to $517, but investors are concerned about its future performance, especially as the token has failed to stay above $610 since mid-June. Activity on BNB Chain has dropped significantly, especially as decentralized exchange (DEX) trading volume has plummeted by 24% in the past week. In comparison, Ethereum activity has only fallen by 4%. The data also shows that the number of active addresses on BNB Chain has fallen by 18%, and the number of active users of the top five DApps has also dropped significantly. Although some market participants believe that BNB may rise in anticipation of the release of CZ, the fundamental support for such a rise is still insufficient given the weak activity of BNB Chain. Overall, the challenges facing BNB include reduced trading volume and a decline in smart contract deposits. (Cointelegraph)
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