BNB Chain [BNB] is experiencing a remarkable surge in its NFT ecosystem, presenting promising prospects for the future. Recently, BNB unveiled a blog post highlighting numerous new projects launched on the chain, indicating potential for substantial growth in the upcoming months.
In the past 24 hours alone, CRYPTOSLAM reported a staggering increase of over 100% in NFT buyers. Additionally, there has been an almost 20% rise in both transactions and sellers. Furthermore, the total sales volume has surged by nearly 10% within the last day.
Santiment’s data revealed that although there was a slight decline in the total number of NFT trade counts, they have remained consistently high throughout the past week. Moreover, the total NFT trade volume has also witnessed an increase.
These datasets indicate that BNB’s NFT ecosystem has made commendable progress over the past few days, demonstrating its potential for future growth.
BNB has recently unveiled an extensive list of new projects launched on the chain, and these projects have the potential to impact the BNB ecosystem over time significantly. One such project is Cyber Titans, a groundbreaking Gamefi project. This strategy web3 video game, falling within the auto-chess genre, marks the first-ever e-sports game launched on the BNB Chain, providing users with high-quality gaming content.
Another notable addition to the BNB ecosystem is Bidao in the DeFi space. With this launch, the BNB token has become a supported collateral asset within Bidao’s DeFi ecosystem. Additionally, there are several other exciting projects, including DanceFit, Fitburn, Popcorn, GPTVerse, Crossmint, and many more.
As reported by Token Terminal, the number of daily active users on BNB has been steadily increasing. BNB currently ranks second, only behind Tron [TRX], in terms of active users. However, with the introduction of these new projects and the value they bring to the ecosystem, it is not far-fetched to envision BNB surpassing Tron in the coming months.
Despite relatively minor fluctuations in price over the past week, BNB has remained relatively stable. CoinMarketCap data shows a decline of less than 1% in BNB’s price over the last seven days, with the token currently trading at $306.28 and boasting a market capitalization of over $47 billion.
As we look ahead to the coming week, several metrics suggest the potential for positive developments. BNB’s MVRV Ratio has substantially recovered, signalling a bullish trend. Additionally, after experiencing a sharp decline, BNB’s velocity has regained upward momentum.
In conclusion, BNB’s NFT ecosystem has grown significantly, with a surge in NFT buyers, transactions, and sellers. The recent launch of various projects, such as Cyber Titans and Bidao, further strengthens the BNB Chain. With an increasing number of daily active users and positive indicators for the future, BNB is poised for continued success in the coming months.
Source: https://bitcoinworld.co.in/bnb-chains-latest-projects-could-mean-this-for-bnb-and-its-traders/