- BNB has seen a 13% enhance in DEX quantity, a improvement that has positively impacted its value motion.
- The altcoin has outperformed each Solana and Ethereum in current on-chain exercise.
Binance Coin [BNB] has seen a 13% enhance in decentralized trade (DEX) quantity, a improvement that has positively impacted its value motion.
Over the previous week, BNB has cleared three main resistance zones and is now approaching its early-February excessive of $640.
A 50% spike in buying and selling quantity confirms robust capital inflows, whereas the BNB/BTC pair has hit a yearly excessive, signaling rising relative power in opposition to Bitcoin.
Nevertheless, with RSI nearing the overbought territory, merchants ought to monitor potential exhaustion alerts for a potential short-term cooldown.
Supply: TradingView (BNB/BTC)
Notably, in contrast to Solana and Ethereum – each posting two-year lows in opposition to Bitcoin – BNB has gained dominance.
This divergence is mirrored in DEX quantity, the place Binance Good Chain [BSC] noticed $2.544 billion (up 13%), whereas Solana and Ethereum recorded 20% declines, dropping to $1.183 billion and $1.348 billion, respectively.
Supply: DefiLlama
Curiously, the shift extends past buying and selling quantity. Whereas Solana’s Complete Worth Locked (TVL) has dropped to pre-election ranges of $8.66 billion because of de-staking, Binance’s DeFi ecosystem has seen regular progress, with TVL rising to $6.53 billion.
With BNB outpacing high-cap rivals in DEX quantity and staking exercise, is a return to its $100 billion market cap now inside attain?
BNB’s path to reclaiming a $100 billion market cap
A breakout above $700 may assist BNB regain its $100 billion market cap standing. Sturdy capital inflows and a bullish construction help a near-term transfer towards $670, assuming market circumstances stay secure.
Nevertheless, at press time, the RSI indicated that BNB was approaching overbought ranges, rising the chance of profit-taking.
If patrons preserve momentum, $670 may flip right into a help stage, enabling additional positive aspects.
Supply: TradingView (BNB/USDT)
In any other case, a retracement to $620 and even $600 could also be on the playing cards earlier than one other breakout try.
