- BNB ecosystem’s dApps showed growth when it came to development activity.
- Prices are moving sideways as the overall activity, transactions and prices decline.
You can also find out more about the following: Binance Smart Chain [BSC] It is one of the most popular ecosystems for cryptocurrency. The network is attracting a large number of users due to its popularity.
Developers get to work
The dApps have improved the protocols of their networks, which is one of the main reasons why these networks are so popular.
Santiment’s data revealed that development activities on the BSC were increasing at the time this article was written.
BNB’s rapid development shows the speed at which updates and improvements are made to the network.
The updates not only help to attract new users, but they also assist in keeping them as well as improving the overall experience of all users.
In spite of the development and growth seen in these dApps over the past weeks, overall BNB activities have decreased.
The Daily Transactions on the Network have fallen by 3.5 Million since the start of April.
Also, there was a decrease in Daily Active addresses on the Network from 1.4million to only 1million.
DeFi has also been plagued by problems. BNB’s DEX volumes (Decentralized Exchange) on its network have been significantly reduced over the last couple of days.
TVL, or Total Value Locked (TVL), on the BNB Network remained the same during this time.
Price is important
BNB, the token, was valued at $601.34 as of press time. The price has fallen by 0.71 percent in the last day.
The BNB price has been fluctuating between $537.1 and $619.7 for the past couple of weeks. BNB did not show any significant trends during this time period.
BNB was not likely to surpass $632 any time soon, even though it had tested that resistance level multiple times before.
BNB would need to have a lot of momentum in order to reach that level again.
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The RSI showed that bullish momentum surrounding the token has fallen in the past few days.
CMF (Chaikin Cash Flow) was high and reflected a steady flow of funds into BNB.
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Source: ambcrypto.com