{"id":257154,"date":"2024-03-01T14:02:24","date_gmt":"2024-03-01T08:32:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=257154"},"modified":"2024-03-01T14:02:24","modified_gmt":"2024-03-01T08:32:24","slug":"bnb-barrels-past-400-as-binance-tvl-nears-5-billion-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bnb-barrels-past-400-as-binance-tvl-nears-5-billion-crypto-news\/","title":{"rendered":"BNB Barrels Past $400, As Binance TVL Nears $5 Billion – Crypto News"},"content":{"rendered":"

<\/p>\n

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Recently, the Binance Smart Chain emerged as the top Layer 1 platform with the biggest number of BNB users. There has also been a noticeable increase in its volume.<\/p>\n

The optimistic outlook for the cryptocurrency market as a whole has also contributed to BNB\u2019s success. With a market capitalization of around $2.30 trillion, Bitcoin\u2019s latest ascent beyond $63,000 suggests that investor confidence has increased.<\/p>\n

BNB Approaches $5 Billion TVL<\/strong><\/h2>\n

Total Value Locked (TVL) for BNB Chain increased steadily this year\u00a0and is currently close to $5 billion. It\u2019s crucial to remember that the current upward trend in BNB is what\u2019s responsible for the TVL spike.<\/p>\n

Source: DefiLlama<\/a><\/pre>\n
According to data from DefiLlama, this represents a notable rise over the $3.50 billion reported at the beginning of the year and illustrates the growing presence of decentralized finance (DeFi) protocols on the chain.<\/p>\n
With 425 million unique users, BNB chain held the top spot at the time of publication, according to Crypto Rank data, which displayed the total number of unique users across the top 15 networks.<\/p>\n
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Top 15 Blockchains by the Number of Unique Addresses@BNBCHAIN<\/a> \u2013 425M@0xPolygon<\/a> \u2013 406M@ethereum<\/a> \u2013 259M@trondao<\/a> \u2013 214M@FantomFDN<\/a> \u2013 172M@Optimism<\/a> \u2013 124M@NEARProtocol<\/a> \u2013 99M@base<\/a> \u2013 65M@Aptos_Network<\/a> \u2013 27M@MoonbeamNetwork<\/a> \u2013 20M@arbitrum<\/a> \u2013 17.9M@avax<\/a> \u2013 17.7M\u2026 pic.twitter.com\/lGYGfjTaea<\/a><\/p>\n
\u2014 CryptoRank.io (@CryptoRank_io) February 28, 2024<\/a><\/p>\n<\/blockquote>\n
On-chain volume on BNB Chain saw a notable spike this week, peaking at about $1.4 billion. According to DefiLlama, this is the greatest volume seen in 2024 and the second-highest day volume on the chain in more than a year. An increase in activity suggests that users are more engaged and that the ecosystem has room to develop.<\/p>\n
<\/p>\n
Total crypto market cap is currently at $2.214 trillion. Chart: TradingView.com<\/a><\/pre>\n
BNB Breaches $400 Level<\/strong><\/h2>\n
The price of BNB has recently increased to levels not seen in months, which is quite notable. The coin has moved into previously unobserved price ranges as of April 2022.<\/p>\n
The 24-hour period chart analysis showed that BNB ended trading on a high note. Though there has been a slight decline of less than 1% as of this writing, BNB is still trading at $405.<\/a><\/p>\n
\"\"Source: Coingecko<\/a><\/pre>\n
The excitement around the web3 game project Portal\u2019s airdrop farming campaign is partly responsible for the recent increase in BNB\u2019s price. Users were able to take part in Portal\u2019s PORTAL token airdrop thanks to Binance\u2019s Launchpool integration, which increased interest and engagement in the BNB Chain ecosystem.<\/p>\n
Meanwhile, bulls will retake control and be ready to challenge the market\u2019s upper resistance level of $420 this week if the price moves over the resistance level of $401. If the price stays there, the BNB coin will be ready to try testing its upper limit of $435 in the following weeks.<\/p>\n
The notable variation in pricing is observed despite Binance being subjected to one of the most serious criminal penalties in the history of the United States. Following the consent of a judge, the exchange reached a plea agreement amounting to $4.3 billion, which pertained to allegations associated with violations of anti-money laundering regulations and penalties.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Recently, the Binance Smart Chain emerged as the top Layer 1 platform with the biggest number of BNB users. There has also been a noticeable increase in its volume. The optimistic outlook for the cryptocurrency market as a whole has also contributed to BNB\u2019s success. With a market capitalization of around $2.30 trillion, Bitcoin\u2019s latest […]<\/p>\n","protected":false},"author":2,"featured_media":257155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-257154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=257154"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257154\/revisions"}],"predecessor-version":[{"id":257157,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257154\/revisions\/257157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/257155"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=257154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=257154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=257154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}