The underlying asset of the Binance Chain network, the BNB token (Binance Coin), has suffered losses over the past few weeks. The rollback is observed against the background of the general correction of the cryptocurrency market.
On Saturday, June 19, the BNB fell to $ 340. Cryptocurrency capitalization fell to $ 52.091 billion. In parallel, there is a weakening of transaction activity in the Binance Chain network.
According to the BSCScan service, the average daily number of transactions on the blockchain fell by 60% over the month. If in mid-May the network processed about 11.38 million transactions daily, now this figure is only 4.68 million.
However, at the same time, researchers are observing an increase in the number of unique addresses on the network, despite the weak transactional activity. At the moment, over 78 million accounts are registered on the blockchain.
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If you look at the graph provided by BSCScan, you can see that the explosive growth in the number of unique Binance addresses was observed in mid-February this year. Then the network even bypassed Ethereum in the number of daily transactions.
In addition, Binance Chain has become a more attractive blockchain for decentralized application (DApps) developers.
The fall in the value of the BNB token was used by large traders or the so-called "whales", according to a report by the Santiment team.
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According to her, the number of wallets containing at least a thousand coins reached 1161. For comparison, in mid-May, such a volume of cryptocurrency was controlled by 1086 addresses, that is, in monthly terms, the growth was about 7%. The whales took advantage of the fall in the BNB exchange rate and bought at more comfortable prices, analysts said.