BNB recovers alongside the wider crypto market, but it appears that improving fundamentals back the token’s recovery.
BNB price could aim for new highs as multiple metrics point to Binance remaining a major player in the crypto sector.) price is heating up again after a four-day correction that saw it lose 16% of its value. BNB climbed from a low of $500 on March 20 to an intra-day high of $539. At the time of writing, the price was hovering around $550, up 5% over the last 24 hours, according to data from CoinMarketCap..
Data from CCData shows that Binance’s market share continued to rise since October 2023, climbing for the fifth consecutive month to more than 40%.from CoinGecko, which shows that the total 24-hour trading volume on all crypto exchanges at $178 billion, with Binance accounting for $41.7 billion of this on March 20. ByBit comes in second place, contributing only $7.5 billion, and OKX is in third place with $6.5 billion.
According to data from DappRadar, the BNB Chain remains a powerhouse among layer 1 blockchains, handling 7.07 million transactions in the last 30 days against Ethereum’s 1.2 million transactions.Unique Active Wallets is a metric DappRadar uses to express how many individual crypto wallet addresses interact with a blockchain’s smart contracts.
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