- Analysis shows that the demand for BNB is increasing when assets and fees increase rapidly.
- Market traders are currently accumulating assets in large quantities than potential rally.
Binance Coin (BNB), the fifth largest cryptocurrency due to market cap, has moved slowly over the past week and day.
But according to a wider outlook, the market has a decent 12.95%profit over the past month.
According to the current market sentiment, assistants can soon be converted, and it can record notable profits with users’ growth and token accumulation.
How can a new user of BNB affects assets?
In the last 24 hours, the number of new users of BNB smart chains has been significantly surged.
According to recent data, the new address has increased rapidly during the period, increasing to 589,657 addresses.
Source: bscscan
This user surge also corresponds to the rise of the utility of the BNB in the chain. At the time, the total trading fee rose to 933.23 BNB to 20.91%.
This is the highest commission generated since May 21, and 6.61%increased to $ 691. If history is repeated, BNB can reach the new best this week.
This fee is about $ 624,000, especially high.
At the same time, the average transaction fee is $ 0.04, up 12.50%. Some factors affect the rise in trading fees, but one of the main factors is the network.
Source: bscscan
According to a high network use, more users indicate that the market contributes to the increase of BNB in the market.
The market is still pushing back
Market Spot Traders oppose the rally when selling BNB Holdings.
At the time of writing, the cohort continues to benefit and ends their position. The traders have realized $ 2.6 million in the last 24 hours.
It is a different case in the derivative market, and most of the active positions are long.
Source: COINGLASS
At the time of writing, the public interest weighting rate continued to increase to 0.0026%reading.
This positive proportion means that futures trading activities are still high and may continue in this direction.
Accumulated in profits
In addition, the accumulation and distribution (A/D) indicators are still strong. Accumulation is confirmed when the ratio tendency rises up or remains in the positive area.
Source: TradingView
This upward trend continues with user growth and the increase in BNB usage suggests that potential rally may soon begin.