the volumes of the DEX are decreasing, but the price of the crypto is recovering

The volumes of DEX on BNB Chain have dropped by -29% in a week, surpassing the decline recorded by DEX on Ethereum (-11.5%) and on Solana (-19%). Yet, the price of the crypto BNB seems to be recovering, rising to 535$.

BNB Chain: drop in DEX volumes by -29% in one week, but the crypto price starts to rise again

According to the data from DefiLlama, in the last seven days, the volume of DEX on BNB Chain has dropped by -29%. A worse performance than the other two main blockchains in the world of DeFi, with DEX on Ethereum recording a decline of -11.5% and on Solana of -19%.

Delving deeper into the analysis, it appears that even the number of active addresses reported by DappRadar has recorded a decline in the last seven days and here too, BNB Chain surpasses the other two blockchains negatively. 

In fact, the number of active addresses involved with BNB Chain decreased by -18% while on Ethereum only by -5%, in the same period. 

Coloring this chart red, it was precisely the top dApps of BNB Chain like Move Stake, Treasury Ship Game, PancakeSwap, StarryNift, and Galxe.

These data indicate that the general decline of BNB Chain has affected not only the DEX, but also the dApps on games and staking services. 

Yet, in this context, BNB seems to want to recover with the price of the crypto that today woke up colored in green. 

BNB Chain: the volume of DEX decreases but the price of the crypto shows a recovery

In the last 24 hours, the price of BNB has risen by over 5%, recovering the drop of the last seven days which has now become only -4%. 

In other words, at the time of writing, the price of BNB is $535, recovering from $502 yesterday, but still lower than $557 a week ago. 

BNB is still on the podium of crypto in terms of market capitalization, excluding stablecoins. In fact, with 77.98 billion dollars of market cap, BNB is only behind Ethereum (ETH) with 302 billion dollars and Bitcoin (BTC) with its 1.164 billion dollars.

Right behind BNB is Solana (SOL), which is working hard to surpass its 62.69 billion dollars market cap. The price of SOL, however, at the time of writing, is recording a drop of -15% in the last seven days, and a pump of +4% in the last 24 hours. 

In any case, the price of BNB seems to be in a recovery phase even though it is still quite far from its annual high of $710, recorded last June. 

The latest news on Binance

And when it comes to BNB, one cannot overlook the latest news regarding the crypto-exchange of Binance.

First and foremost, the announcement by Binance of having accompanied the evolution of the Cardano network and its hard-fork that took place on the first of September. In practice, the crypto-exchange provided technical support to ensure that the transition occurred smoothly for the platform’s users.

Another crypto-news concerns the case of the Binance executive, Tigran Gambaryan, detained in Nigeria, who is expected to start his trial in these days, hoping that he can see his lawyer beforehand. 

And speaking of Binance characters, it is also worth remembering its co-founder, Changpeng CZ Zhao who, although he has left his administration, remains the mind that gave life to the largest crypto-exchange. CZ is serving his four-month prison sentence, with release scheduled for next September 29.