- BNB is showing strong bullish potential as user growth on the BNB Smart Chain surges and transaction fees hit their highest levels since May, signaling increased network activity.
- Despite short-term profit-taking by spot traders, rising accumulation and long positions in the derivatives market suggest a potential breakout to new highs.
Binance Coin (BNB) is showing strong signs of a potential breakout, and two key factors—soaring user growth and rising accumulation—could be the fuel that propels it to new highs.
While BNB, the fifth-largest cryptocurrency by market cap, has moved sluggishly in recent days, it’s gained nearly 13% over the past month. Now, all eyes are on the latest metrics signaling growing momentum.
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User Growth Signals Explosive Potential
A sharp 26% spike in new addresses on the BNB Smart Chain in the last 24 hours pushed the total to 589,657—an impressive surge that indicates increasing network adoption. This spike in user activity was mirrored by a 20.91% jump in transaction fees, reaching 933.23 BNB (approximately $624,000)—the highest since May 21. The last time fees climbed this high, BNB surged 6.61%, topping $691. If history repeats, a new high may be on the horizon.
With average transaction fees also up 12.5%, rising to $0.04, it’s clear the BNB network is seeing heightened usage—a bullish signal in any crypto cycle.
Accumulation Outweighs Profit-Taking
Despite some resistance from spot traders cashing in on recent gains—realizing $2.61 million in profits in 24 hours—long positions dominate in the derivatives market. A positive funding rate of 0.0026% suggests bullish sentiment among futures traders, with strong activity expected to continue.
Additionally, BNB’s Accumulation & Distribution (A/D) metric remains in a positive trend, confirming that more market participants are stockpiling the token despite short-term sell-offs. This divergence between spot profit-taking and broader accumulation often precedes sharp upward price movements.
BNB stands at a crucial tipping point. With on-chain metrics flashing bullish signals—soaring user growth, increased fees, and strong accumulation—there’s growing speculation that a major rally is brewing. If momentum holds, BNB could be poised to smash through its previous highs and lead the next wave of altcoin breakouts.