Golden Finance reported that as the BNB token reached a record price of more than $710, projects across the BNB chain ecosystem have seen a significant increase in activity, token prices, and trading volumes. While there is no direct catalyst for BNB's price increase, some market observers say that some existing activities have boosted the fundamentals of the token. Nick Ruck, head of growth at Bitcoin yield project BitU, said that BNB's price has benefited from token destruction and token lock-up programs that have been carried out over the years. Due to low gas fees, the BNB protocol has also stepped up publicity and activities and cultivated a large and vibrant user base. A Floki developer said: "The BNB chain is probably the most undervalued chain of all cryptocurrencies, partly because some parties have promoted some anti-Binance/BNB rhetoric. However, from a fundamental point of view, the BNB chain is one of the best chains: it is fast, scalable, and arguably the most used chain by most of the non-Western world.
