Binance Coin (BNB) surged to a record high of $1,111.90 this week, reflecting the network’s robust activity and recent upgrades. The token has experienced significant gains, reaching 7.4% in 24 hours and a staggering 17.5% over the entire week. This rally is attributed to both a broader crypto market rebound and innovative developments on BNB Chain.
BNB Chain’s TVL saw an impressive growth of 2.5% in the past day, reaching $8.23 billion, according to DefiLlama data. Active addresses also hit a record high of 73.24 million, demonstrating robust demand for the network. On-chain activity further surged with increased transaction volumes, signaling the growing adoption of DeFi platforms.
To accelerate efficiency and lower transaction costs, validators recently approved a cut in gas price to 0.05 gwei. This move, anticipated to boost competitiveness, aligns BNB Chain’s offerings with the demands of traders and developers. Binance, alongside this network development, is launching a new ‘crypto-as-a-service’ platform for licensed banks, brokerages, and stock exchanges. This offering aims to enable traditional institutions to seamlessly integrate crypto trading into their existing systems.
As BNB Chain continues to gain momentum with its network growth and innovative upgrades, it stands as a key player in the rapidly expanding cryptocurrency market.