Binance Coin Surges as DEX Volume Hits new Heights
Binance Coin (BNB) has seen a significant price increase,reaching $660,a 13% rise from its recent low. Despite this, it’s still slightly below its monthly peak of $692.
The surge in BNB’s value is linked to the growing popularity of its decentralized exchange (DEX) protocols. In the past month, Binance Coin (BNB) has been on a steady rise, reaching $660.This marks a 13% increase from its lowest point this month. However, it’s still a bit below its peak of $692.
The growth in BNB’s value is tied to the increasing use of its decentralized exchange (DEX) protocols. In the last 30 days, these protocols processed over $100 billion in transactions.This volume surpasses top chains like Ethereum ($67 billion) and Solana ($97 billion).
Most of this activity occurred in the last seven days, with a 133% jump to over $55 billion. PancakeSwap, a leading DEX on Binance Smart Chain (BSC), handled $50 billion in the past week and $92 billion in the last month. It recently crossed the $1.62 billion cumulative volume mark. Othre BSC DEX networks, such as Uniswap and THENA, have also seen higher volumes.
The BSC’s recent upgrades, Pascal and Lorentz, have boosted its activity. the upcoming Maxwell upgrade in June will further enhance its speed.
Technically, BNB has formed a golden cross, often a sign of future gains. If it breaks above $690, it could reach $795, a 20% increase from its current level.
