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Binance Coin (BNB), the leading cryptocurrency exchange in terms of volume, has seen gains in its weekly chart, giving investors hope for more profits. According to the latest data, things could get even better as BNB’s Galaxy Score is at its highest level among the top cryptocurrencies, which is promising for a bull run.
Investor Interest in BNB
The popular altcoin BNB has managed to impress investors by showing an increase of over 1.5% in its price in the past seven days. At the time of writing, it was trading at $213.51 with a market capitalization of over $32.2 billion, making it the third-largest cryptocurrency.
As the price of the altcoin rose, the trading volume also experienced double-digit growth, paving the way for price increases. According to the data from analytics firm Artemis, Binance’s network activity has also seen an increase recently, as it revealed that BNB’s daily active addresses have been on the rise in the past few weeks.
Increase in BNB Metrics
A similar upward trend has been observed in terms of daily transactions for the blockchain, which sharply rose after a decline. The trading volume of the blockchain has also increased in the recent past, indicating that investors are willing to effectively trade BNB. The increase in volume has also supported the price surge.
Thanks to the price increase in the cryptocurrency, the volatility of the token has significantly increased in the 1-week period, raising the possibility of further growth. The token’s social volume has also recorded a relatively higher level. This suggests that the token was a popular altcoin in the crypto space last week. According to experts, most indicators favor the bulls, which could lead to further price increases for BNB. For example, the MACD showed an upward trend. BNB Chain’s Money Flow Index (MFI) and Chaikin Money Flow (CMF) have increased, which could increase the likelihood of prices moving further north.
