BNB has surged past the $765 threshold, propelled by unprecedented on-chain activity within its ecosystem, effective tokenomics, and a supportive regulatory backdrop.
The BNB Chain network recently recorded over $191 billion in decentralized exchange (DEX) volume within a 30-day window, exceeding the combined volumes of Ethereum, Solana, Polygon, Arbitrum, and Base. Leading platform PancakeSwap consistently posted weekly volumes surpassing $40 billion, highlighting robust demand.
Significant growth in BNB Chain’s stablecoin ecosystem also contributed to the bullish momentum. The total stablecoin value on the chain rose 5% to surpass $11.1 billion. Network activity surged with 14.8 million active addresses conducting 513 million transactions worth $295 billion, enabling BNB Chain to overtake Tron in stablecoin transactions.
BNB’s deflationary token burn mechanism has played a crucial role. Over $1 billion worth of BNB tokens have been permanently removed from circulation, steadily reducing the supply from an initial approximately 130 million tokens towards a target minimum supply of 100 million tokens.
The enactment of the GENIUS Act provided regulatory clarity for stablecoins, reducing perceived risks associated with the wider ecosystem and potentially attracting increased institutional participation to BNB Chain, boosting overall market confidence.
Technical indicators reinforce the positive sentiment, with BNB trading above key moving averages. An Average Directional Index (ADX) reading of 31 signifies a strong prevailing uptrend, underpinned by the high DEX volumes, expanding utility through stablecoins, and ongoing supply reduction.