Crypto: Binance’s BNB is holding strong!

In the tumultuous darkness of cryptocurrencies, Bitcoin sways in the lead, but a light is piercing the horizon: Binance’s BNB, long outshone, now sparkles in the crypto universe thanks to the BNB Chain. Let’s zoom in on this phenomenon!

Explosion of Positive Actions in the BNB Ecosystem

In early March, the BNB caught the spotlight in crypto media by approaching 600 euros, edging closer to its May 2021 All-Time High (ATH) of 686 dollars. Many analysts predict the imminent shattering of this historical peak.

The cryptocurrency universe sees a star shining: the BNB Chain ecosystem records remarkable performance in the first quarter. The figures speak for themselves, with revenue, profits, and BNB price on the rise.

Coin98 Analytics, a vigilant observer of cryptos, underscores this trend in a recent post shared by Coin Edition. According to Token Terminal data, all income statement indicators are skyrocketing, displaying impressive growth of over 70% compared to the previous quarter.

The figures are self-evident: BNB generated 66.86 million dollars in fees during the first quarter of 2024, a 70.5% increase compared to the previous quarter. Similarly, the BNB Chain ecosystem recorded a revenue of 6.62 million dollars, a significant increase of 77.9%.

More surprisingly, the ecosystem has incurred no expenses since last year, thus turning its revenues into net profits. These performances are part of a rising trend of the BNB token itself, promising a bright future for Binance’s ecosystem.

BNB: A Breathtaking Ascent in the Crypto Universe

According to recent data, the market capitalization of BNB has skyrocketed, reaching 60.49 billion dollars, an increase of 65.7% from the previous quarter.

The transaction volume of BNB has also seen spectacular growth, increasing by 136.2% in the first quarter of 2024 compared to the previous quarter. The record volume stands at 174.5 billion dollars, representing a 2.3-fold increase in just one quarter.

The number of BNB holders continues to rise, now reaching 113.13 million, up 14.4% from the previous quarter.

This surge in power is supported by an exceptional price performance, jumping from around $313 to a peak of $632 in the first half of 2024, signifying a gain of 80%. As early as mid-March, a surge of 43% was observed.