After “Black Monday” when Binance’s crypto traded at $409, BNB is starting to regain some color. The rise has been gentle but sure, marking the return of confidence in Binance’s coin. The crux of the matter lies in the recent breakthrough of the BNB Smart Chain, surpassing Solana in terms of trading volume on decentralized exchanges (DEX).
BNB: A crypto rally that defies expectations
Sure, there is some bad news like Binance and CZ facing a money laundering complaint. But it should also be noted that the Binance Coin (BNB) crypto has recorded an impressive performance, reaching its highest level since the end of July at 583.90 dollars. This rally was fueled by a marked increase in open interest in futures contractswho has reached more than $607 million.
This rise in power was mainly supported by Binance, Bybit, and BingX platforms.
To top it all off, BNB Smart Chain has surpassed Solana in trading volume on decentralized platforms (DEX). BSC daily volume jumped 15% to $921 million, compared to a 21% decline in volume for Solana.
It is interesting to note that most of This growth comes from popular DEXs like PancakeSwap, Dodo, Woofi, and Wombat Exchange.
Binance: When BNB Smart Chain overtakes Solana
The BNB Smart Chain has taken one step ahead of Solanaa remarkable feat in the crypto world. On August 22, BNB recorded a 3% increase in the number of active walletsreaching 414,000 unique users, while on-chain transactions jumped 8% to 725,000.
Despite BNB's strong performance, Solana still remains the second largest DEX player after Ethereumwith a weekly volume of $6.3 billion, compared to $4.2 billion for BSC.
Another key element to watch will be Changpeng Zhao's possible release in Septemberwhich could generate an influx of investors due to the excitement around the event.
One detail to remember: for the BNB crypto to continue its rise, it will be necessary to exceed the key resistance located at $603.63.
In June, BNB broke a new ATH, posting an all-time high of over $700, a performance that underscores the resilience of Binance’s crypto.
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