BNBChain was the most active protocol in November, but did it help BNB holders?
s on-chain metrics suggested that sellers were in command.
As can be seen from the image below, the daily active addresses for BNB declined over the past month. Along with that, the decline in velocity was a major concern. It suggested that the frequency at which BNB was being traded amongst exchanges had decreased tremendously.Despite the declining activity, Binance Coin’s price remained in the green zone over the last month.holders were to sell their positions, they would make a profit while doing so.
The spike in transaction volume in profit suggested that many short-term holders have already sold their BNB for profit. If this trend continued, BNB’s prices would be affected negatively in the coming future.Subscribe to get it daily in your inbox.
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