BNB spiked to $610 following a huge token burn, BNB ecosystem tokens pumped across the board, and the L1 saw a surge in on-chain activity alongside its growing DeFi ecosystem.
🚀Week in BNB Chain: Market-wide recovery sends BNB soaring
BNB spiked to $610 following a huge token burn, BNB ecosystem tokens pumped across the board, and the L1 saw a surge in on-chain activity alongside its growing DeFi ecosystem.
Let’s dive into the details 👇
1/10
📈Market Overview:
Bitcoin (BTC) smashed through key resistance levels to retake the ~$94K price point, bolstered by huge ETF inflows & renewed market optimism, carrying the rest of the market with it.
The BNB Chain ecosystem added $11.4 billion in market cap, gaining 8.3% this week.
2/10
💪BNB Rebounds
BNB extended its April recovery by gaining a further 5.6% this week. It also reclaimed the $600 price point and briefly spiked to ~$619 earlier today.
It remains the second-largest gas token by market cap but saw its lead over Solana (SOL) narrow.
3/10
🔀L1 Ranking Shuffle
BNB Chain TVL swelled by 9.3% this week, largely thanks to the growth of PancakeSwap and Lista DAO.
Despite this, it lagged behind Ethereum (+9.4%), Solana (+16.4%) & Sui (+30%) in 7-day growth.
4/10
📊On-Chain Metrics: BNB Chain gained in several key metrics.
Daily active addresses swelled 11.4% to 1.1 million, daily transactions improved by 12.8% to 5.1 million, and DEX volumes jumped 2.6%. It is now the fifth-most popular L1 by daily active addresses & transactions.
5/10
🏆Biggest winners: AI tokens and memes stood out this week among the best-performing BNB Chain tokens.
🔹AI Companions (AIC) +78.2%
🔹Broccoli (BROCC) +60.1%
🔹Synapse (SYN) +53.8%
🔹Thundercore (TT) +46.5%
🔹siren (SIREN) +45%
6/10
🫠Biggest Losers: A small fraction of popular BNB Chain tokens failed to see a recovery this week.
🔹Aergo (AERGO) -67%
🔹Zeebu (ZBU) -10.6%
🔹Polyhedra Network (ZKJ) -1.9%
🔹Beldex (BDX) -1.5%
🔹Test (TST) -1.3%
7/10
🗞️BNB Chain News Recap #1
BNB Chain burned 1.57M BNB tokens (~$916M), reducing supply to 140M, targeting 100M. Kraken listed BNB for trading (BNB/USD, BNB/EUR) on April 22. Lista Lending launched, hitting $189M in deposits & $120M borrowed in 4 days, boosting DeFi.
8/10
🗞️BNB Chain News Recap #2
BNB Chain upgraded its $100M incentive program, testing direct token acquisition to fund DApps. CZ proposed a unified BNB staking system to streamline DeFi rewards & liquidity. These moves show BNB Chain’s push for growth & adoption.
9/10
💡Next Steps:
🔹Zoom in on the burgeoning BNB Chain AI and Meme Coin sectors
🔹Await updates on the VanEck BNB U.S. ETF Filing
🔹Explore BNB Chain’s growing DeFi opportunities
🔹Keep tabs on your favorite BNB Ecosystem tokens: https://coinmarketcap.com/view/bnb-chain-ecosystem/
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