- BNB Chain’s DApps Have Performed Well in the Current Market PancakeSwap Benefiting from WC Hype
- However, the volume and speed of BNB has declined over the past month
BNB Chain’s DApps have overtaken various sectors in the past week. According to a tweet posted by the official BNB Chain account on December 5, dApps such as The Velvet Capital and Raca are seeing growth. Other popular dApps, such as Galxe and the 1-inch network, also grew in terms of unique active users by 36% and 9%, respectively.
Read about our stars’ November progress over the past week #BBChain. @employeeAnd the @employeeAnd the @employee And the @RACA_3 He has been busy reaching new heights in terms of growth, contract development and awards.
Check out the details ⤵️ pic.twitter.com/NSj6lKUuau
– BNB Chain (BNBCHAIN) December 5, 2022
Read Binance coins [BNB] predict the price 2023-2024
This growing interest in dApps may be the reason BNBThe price has remained positive for the past week, despite the bear market.
Explore one corner at a time
One app that has stood out in terms of performance is PancakeSwap, which has increased in volume by 29.23% in the past month. As shown in the image below, the number of unique active transactions and wallets increased during this period as well.
This increase in activity can be attributed to the hype surrounding the ongoing FIFA World Cup. PancakeSwap was able to take advantage of the opportunity and offered bonuses based on User expectations.
Source: Dapp Radar
But despite the interest in BNB Chain’s DApps, its on-chain metrics painted a more pessimistic picture.
More on the BNB story?
From the image below, it can be seen that the volume of BNB has decreased From 1.9 billion to 734 million last month. Its speed has also dropped significantly, which indicates a decrease in the number of BNB exchange addresses.
However, BNB development activity has seen a sharp rise in recent days, indicating that the team at BNB has been actively contributing to the network’s GitHub. This means that new upgrades and updates may be on the way for BNB.
Source: feeling
Despite the turbulent and volatile nature of the current state of the crypto market, BNB’s dominance in the market has continued to grow over the past month. according to mesari, BNB’s stock market dominance grew by 2.91%. At the time of writing, it has captured 5.87% of the total cryptocurrency market.
Source: Messari
Investors looking to buy BNB One must be careful because the network’s volatility has increased by 136% in the past month, which makes buying the asset riskier than usual.
At the time of writing, Binance Coin is trading at $295.35. Its price has risen by 1.78% in the past 24 hours, he said CoinMarketCap.