Crypto fans, listen to this! After BNB price dropped 16% in the past 4 days, it is now back on fire again. The price jumped from $500 to $580 in a single day, according to data from CoinMarketCap. We will analyze 3 important reasons that may cause the BNB price to return to its all-time high again!
1. Binance dominates trading volume.
Despite facing strict regulations from many countries, Binance has maintained its position as number 1 in crypto trading volume. CCData data shows that since October 2023, Binance's market share has increased for 5 consecutive months. Over 40% currently!
2. BNB Smart Chain is bustling.
Did you know that Binance's BNB Smart Chain (BSC) is also recovering strongly? David Zimmerman, DeFi analyst at K33 Research, said the rising BNB price is attracting users and developers. Come back to use the network again.
Data from DefiLlama reveals that Total Value Locked (TVL) on BNB Chain increased by 54% in 2024, demonstrating that There are users and developers. Come interact with the network more$BNB
3. BNB near all-time highs
Currently, the BNB price is only 21% away from its all-time high ($690)! A report from K33 Research indicates that BNB has impressive growth prospects. and close to the highest point in the past More than the Solana (SOL) coin.
