- from BNB Weekly average users exceeded 2.8 million and daily transaction count exceeded 2.9 million.
- On-chain performance was good, but market indicators were bearish.
Binance Coin (BNB) It recently published its Weekly Ecosystem Report, which highlights all the notable developments on the net and also updates key statistics.
According to the report, BNB has once again managed to maintain its track record of more than 2 million transactions and active users.
Another whirlwind week on the BNB chain, let me introduce our Weekly Ecosystem Report!
🔸BNB Chain presents the technological roadmap for 2023
🔸Zero to Hero: BNB Chain Builder Series
🔸Empowering Women in Web3
🔸New Web3 domain workshop– BNB Chain (@BNBCHAIN) February 19, 2023
Last week, the average weekly users exceeded 2.8 million, while daily active users reached 831k. The daily transaction count on the BNB chain also remained high as it surpassed 2.9 million, bringing the total to over 17 million in the past seven days.
Reading Binance Coin (BNB) Price Prediction 2023-24
BNB looks good
Apart from the statistics, BNB also noted some important announcements made in the last seven days.
The most significant development was the release of the BNB Chain technology roadmap for 2023. According to the technical roadmap, bnb chain Ethereum will work with the community to create the best performing EVM compatible client for BSC.
In addition, BNB Chain will continue to improve the user experience, such as introducing better cross-chain solutions and strengthening security through AvengerDAO 2.0.
BNB also launched its new Web3WonderWomen program last week, a new mentoring program for women on Web3.
All the updates had a positive impact on the on-chain performance of the network. For example, BNB’s MVRV ratio has risen in the past few days, which was bullish.
bnbIts momentum was relatively high all week, but then it took a dip.
Furthermore, its on-chain trading volume turned profitable last week, a development in favor of investors.
However, LunarCrush Statistics It turns out that the dominance of the BNB market has decreased by more than 1.2% over the past week.
realistic or not, here it is bnb market cap in btc terms
Price performance has been mediocre
Although the on-chain performance was positive, nothing was reflected on the BNB charts as it posted no profit last week.
According coin market capDespite the bullish market conditions, the BNB price only rose 1.9% in the past seven days. At press time, BNB was trading at $315.34 with a market capitalization of over $49.7 billion.
bnbThe Daily Charts revealed several reasons behind this performance. On Balance Volume (OBV) posted a decline, which was bearish.
The exponential moving average (EMA) ribbon suggested that the bulls could soon lose their advantage in the market as the gap between the 20 day EMA and the 55 day EMA narrowed.
BNB’s Chaikin Money Flow (CMF) also dipped, turning bearish again. The Relative Strength Index (RSI) registered a slight increase but was still close to the neutral mark.
Source: TradingView
