BNB Record at level
With the BNB token reaching a record price of over $710, projects within the BNB chain ecosystem have seen significant growth in activity, token price and transaction volume. While not a direct catalyst for BNB's price increase, some market observers say some current activity is strengthening the cryptocurrency's fundamentals.
Nick Ruck, head of growth at Bitcoin earnings project BitU, said BNB's price has benefited from years of token burn and token locking programs. Due to lower gas fees, the BNB protocol has also accelerated promotions and events and created a large and vibrant user base.
A Floki developer said: "The BNB chain is probably the most underrated chain of all cryptocurrencies, due in part to anti-Binance/BNB rhetoric from some. However, from a fundamental perspective, the BNB chain is one of the best chains out there: Fast, scalable and arguably the most used chain in most of the non-Western world.