In the troubled darkness of cryptocurrencies, Bitcoin is lurching in the lead, but a light illuminates the horizon: Binance's BNB, long eclipsed, now shines in the crypto universe thanks to the BNB Chain. Zoom in on this phenomenon!
Explosion of positive measures in the BNB ecosystem
At the beginning of March, BNB lit up the crypto media headlines by coming close to 600 euros, thus getting closer to its All Time High (ATH) of May 2021 at $686. Many analysts predict the imminent pulverization of this historic peak.
The world of cryptocurrency sees a star shine: the BNB chain ecosystem records remarkable performance in the first quarter. The numbers speak for themselves, with revenues, profits and the price of BNB rising.
Coin98 Analytics, a vigilant observer of cryptos, highlights this trend in a recent post relayed by Coin Edition. According to Token Terminal data, all P&L indicators are exploding, showing an impressive growth of more than 70% compared to the previous quarter.
The numbers speak for themselves: BNB generated $66.86 million in fees during the first quarter of 2024, an increase of 70.5% compared to the previous quarter. Likewise, the ecosystem BNB Chain recorded revenue of $6.62 milliona remarkable increase of 77.9%.
Even more surprising, the ecosystem recorded no no spending since last year, thus transforming its revenues into net profits. This performance is part of an upward trend for the BNB token itself, promising a bright future for the Binance ecosystem.
BNB: A dizzying rise in the crypto universe
According to recent data, the market capitalization of crypto BNB has skyrocketed, reaching $60.49 billionbe one increase of 65.7% compared to the previous quarter.
The volume of BNB transactions has also experienced spectacular growth, increasing by 136.2% in the first quarter of 2024 compared to the previous quarter. This record volume amounts to $174.5 billion, representing a 2.3-fold increase in just one quarter.
Number of BNB holders continues to increase, now reaching 113.13 millionup 14.4% compared to the previous quarter.
This rise is supported by exceptional price performance, rising from around $313 to a peak of $632 in the first half of 2024, a gain of 80%. Already in mid-March, an increase of 43% was noted.
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