**BNB Token Surges Despite Market Volatility**

BNB, the native token of BNB Chain, saw a 6% rise on August 8, breaking the $500 resistance level. However, it's still down 9% for the week due to earlier market corrections. Over the past month, BNB has outperformed most altcoins, dropping only 1% compared to the overall altcoin market's 7% decline.

Improved US jobs data and macroeconomic perspectives have boosted investor confidence, reflected in gains across the S&P 500 and crude oil. Despite this, BNB's future remains uncertain as traders question if it can reclaim its late-July high of $590.

BNB's appeal lies in benefits on the Binance exchange, such as discounted trading fees and exclusive offers. Recent data shows a negligible funding rate for BNB futures, indicating cautious optimism among traders. While BNB Chain's activity has surged, its total value locked (TVL) growth lags behind competitors like Solana and Avalanche.

In summary, BNB's strong onchain activity supports its recent price gains, but the lack of leverage demand and slower TVL growth cast doubt on a significant bull run.