Tech

BNB Chain’s latest projects could mean this for BNB and its traders

05/27/2023
Bitcoin Ethereum News


  • BNB Chain launched multiple new projects in several spaces, such as DeFi, GameFi, etc 
  • The blockchain’s daily active addresses were only second to Tron’s, but the future can be different 

BNB Chain [BNB] witnessed a major uptick in its NFT ecosystem, which looked promising. Not only that, but BNB recently also published a blog highlighting multiple new projects that launched on the chain and can contribute to further growth over the coming months. 

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BNB’s NFT ecosystem flourished

As per CRYPTOSLAM, the number of NFT buyers increased by more than 100% in the last 24 hours. Additionally, the number of transactions and sellers also went up by nearly 20%. The total sales volume also shot up by nearly 10% over the last day.

Source: CRYPTOSLAM

Santiment’s chart revealed that, though the total number of NFT trade counts declined slightly, they were relatively high throughout the last week. Its total NFT trade volume was also up.

All the datasets indicated that BNB’s NFT ecosystem has made commendable progress over the last few days.

Source: Santiment

BNB Chain onboards new projects

BNB recently revealed that several new projects launched in the chain in recent days. The list was quite extensive and could have a larger impact on the BNB ecosystem over time. 

BNB mentioned a new project named Cyber Titans. It is a new Gamefi project, a strategy web3 video game in the auto-chess genre. It is the first e-sports game launched on the BNB Chain, offering high-quality game content for users.

BNB also cited the launch of Bidao in the DeFi space. With the launch, the BNB token became a supported token to be used as collateral within Bidao’s DeFi ecosystem. Apart from these, a few other projects include DanceFit, Fitburn, Popcorn, GPTVerse, Crossmint, and many more. 

A broader impact can be huge

BNB currently boasts an increasing number of daily active users. As per Token Terminal, BNB was only behind Tron [TRX] on the list of active users. However, considering the number of newly launched projects and the value they add, the possibility of BNB overtaking Tron in the coming months, can’t be ruled out. 

Source: Token Terminal

How much are 1,10,100 BNBs worth today      

A look at BNB’s state

BNB’s price did not move much last week. According to CoinMarketCap, BNB’s price had only declined by less than 1% in the last seven days. At press time, it was trading at $306.28 with a market capitalization of over $47 billion.

The coming week might bring better news, as suggested by a few metrics. The token’s MVRV Ratio recovered substantially, which was bullish. Furthermore, after a sharp decline, BNB’s velocity also gained upward momentum. 

Source: Santiment

Source: https://ambcrypto.com/bnb-chains-latest-projects-could-mean-this-for-bnb-and-its-traders/