• Binance Coin [BNB] has maintained a steady number of users on its network for some time.
• BNB is making efforts to boost its GameFi and NFT ecosystems with partnerships.
• Investors‘ confidence in BNB is increasing as seen from on-chain metrics and sentiments.
Overview of Binance Coin
Binance Coin [BNB] has been consistently attracting more than 2 million weekly users to its platform, while the daily average users stood at 820,000 and the daily transactions exceeded the 2.8 million mark. The cryptocurrency is also stepping up its game in terms of its GameFi and NFT ecosystems with new partnerships.
The latest partnership of BNB was with GAIMIN which aims to support developers in building and launching Web3 games to accelerate the growth of blockchain-based games. However, data suggests not much growth was registered as BNB’s gaming weekly average users did not increase by any significant margin. Furthermore, the NFT space too failed to register growth but showed signs of revival after slight spike in February 2023’s statistics.
Increasing Investors Confidence
Investors’ confidence in BNB doesn’t seem to have dwindled; rather, it increased, as was evident from looking at Santiment’s chart which showed that total supply held by top addresses went up over the last 30 days reflecting higher investor faith in the coin. On-Chain metrics also supported BNB as development activity increased along with positive sentiments around BNB spiking quite a few times recently.
Bulls are here
After days of bearish markets, bulls made an appearance reflected by Metrics and market indicators favoring them; however velocity was concerning as it went southwards lately but nothing major enough to deter investors’ faith in BNB as they continued accumulating coins signaling positive sentiment towards this crypto asset going forward into 2023-24 period
Overall, it looks like investors are optimistic about what lies ahead for Binance Coin [BNB], despite certain concerns regarding velocity which can be resolved soon with appropriate measures taken by developers or market forces themselves leading to further upside potential for this cryptocurrency in near future..