BinanceChain registers a 229% surge in this metric- Are investors happy about it?
The growth in network adoption could be due to some big-ticket launches in its NFT vertical. On 1 March, a platform namedwas unveiled by Binance, which would combine artificial intelligence and non-fungible token technology.
However, data from Santiment narrated a different story. Barring the short-term upticks at different intervals, the total NFT trading volume has plunged 67% from the peak of 6 February until 2 March.BNB Chain’s performance on the DeFi front also left a lot to be desired. The total value locked declined by 12% over the last three weeks and dipped well below $7 billion.Binance Coin has shed more than 6% of its value in the last week and was down 2.
The Moving Average Convergence Divergence suggested a bearish outcome for the coin as well while the On Balance Volume showed a marginal drop.Source: Trading View BNB/USDSubscribe to get it daily in your inbox.
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