Could the BNB market finally return to the upside in the medium term given significant developments around the ecosystem? Recent updates have included safety aspects to strengthen its wall and stand firm against intrusions.
However, it is worth considering – are there any cracks inside these built-in walls?
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Binance coin (BNB) is in bullish territory at the time of writing, with the altcoin price above the $292 mark. Ergo, the question – can the exchange rate go up as development upgrades see two important faces?
Less than 48 hours ago, Binance Coin (BNB) was released. Binance Account Linkage Token (BAB), A Soul bound symbol Used as proof of identity for Binance users who Full KYC Verification. After that, BNB posted a gain of more than 6% on the charts. In fact, altcoin recorded >1 billion in trading volume during the same period.
In the early hours of September 10, 97,464 accounts were flagged on Binance Account Bound (BAB). At the time of publication, the stated balance is 116.524 on BSCscan.
However, is the number of accounts large enough? Consider this – in July 2022, Binance claimed that the total number of users exceeded 120 million. Simply put, only 0.08% of users have stamped their BAB.
According to journalist Colin Wu tweet,
“It shows that the role of BAB is currently unclear and participation is low. There are also members of the community who have reported that the drafting process is not smooth enough.”
Naturally, BNB supporters were quick to attack. of his supporters addedAnd the
The real reason is that it is not generalized to everyone. Not all registered members know this…”
However, it should be noted that such comments did not really prevent the platform from accelerating to new heights. Binance platform as well rolled The new and revolutionary zkBNB, which has a precise Layer 1 security level that is enhanced by the BNB Smart Chain of Secure Building Mechanisms.
We are excited to announce a major breakthrough for #BBChain Scaling and innovation of ZK.
an introduction # zikip An industry-leading secure scaling solution that requires insufficient knowledge that provides:
🔸 Advanced scalability
🔸 Processing speed
🔸 Unparalleled Security
– BNB Chain (BNBCHAIN) 7 September 2022
The aforementioned update will help the platform speed up transaction times while reducing fees. In addition, it will allow BNB to process between 5,000 and 10,000 transactions per second. This significantly exceeds the current capacity of the blockchain.
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The developers expect to contribute to an increase in the good cause along with BNB trading volume. Both metrics showed increased interest in the platform and the aforementioned code.
Additionally, other metrics such as average daily/weekly transactions also echoed a similar scenario.
– BNB Chain (BNBCHAIN) September 10, 2022
However, the price of BNB failed to contradict the general sentiment. In fact, at the time of writing, the exchange rate has fallen by 3% in the 24-hour period.