The BNB Smart Chain (BSC) network has reached an all-time high of 3.62 million active addresses per day.
This level of activity On-chain That coincided with the time when the network’s native cryptocurrency, BNB, reached its highest valuation, reaching USD 1,311.
The graph below shows the close correlation between the growth of active addresses on the BNB Chain network and the price of crypto assets. From mid-September onwards, Both indicators are rising almost in sync.
Price increases seem to have encouraged new users to join, and vice versa. Actions that create a virtuous cycle And it is associated with a sense of FOMO (fear of missing out) in the market.
Currently, BNB’s price is around $1,066, but this was pushed down by the decline in Bitcoin (BTC), which fell below $105,000 this Friday, October 17th, as reported by CriptoNoticias.
Therefore, the daily active address indicator is integrated as an important reference information for assessing the health of the BSC network. Predict the next BNB price movement. In that sense, for CryptoOnchain analysts, maintaining the number of active addresses above 3 million is “critical to continuing the bullish trend.”
(Tag translation) Altcoin
