<p><strong>Binance’s native network, BNB, is widely recognized as a prominent protocol in the cryptocurrency realm. However, in recent months, other protocols have been gaining traction and capturing Binance’s market share.</strong></p><h2 id="header-0">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>This shift is particularly evident due to the rising volumes of decentralized exchanges (DEX) on their respective networks.</p><h2 id="header-1">BNB Network Sees Surge in DEX Volumes</h2><p>In recent days, decentralized exchange (DEX) volumes on the BNB network have experienced a notable surge, surpassing those on Ethereum (ETH). This uptick in DEX volume has the <a href="https://cryptosheadlines.com/potential-20-upside-for-binance-coin-as-bnb-chain-demonstrates-resilience/" rel="noopener noreferrer nofollow">potential to attract more users to the Binance Chain</a> ecosystem, fostering a network effect wherein a growing user base enhances the network’s value and appeal to additional users.</p><p><strong>Impact on Total Value Locked (TVL) and BNB Demand:</strong> Artemis’ data analysis reveals a significant increase in the Total Value Locked (TVL) of the BNB network over the past few weeks, reaching approximately $6 billion. <a href="https://cryptosheadlines.com/ongoing-sec-negotiation-fuels-binances-native-token-bnb-surging-5-44/" rel="noopener noreferrer nofollow">BNB serves as the native token</a> for transactions on the Binance network, and heightened DEX volumes may lead to increased transaction activity. Consequently, this could drive up the demand for BNB to cover <a href="https://cryptosheadlines.com/pols-token-mining-spurs-1000-surge-in-polygon-gas-fees/" rel="noopener noreferrer nofollow">gas fees</a> associated with these transactions. Additionally, such developments may contribute to a rise in the price of BNB.</p><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/03/cryptosheadlines006-7.png?resize&#61;640%2C478&amp;ssl&#61;1" /></p><h2 id="header-2">BNB Price Analysis and Outlook</h2><p>As of the <a href="https://cryptosheadlines.com/weekly-crypto-reports-latest-updates-on-the-world-of-cryptocurrency-exchanges/" rel="noopener noreferrer nofollow">latest update</a>, BNB is trading at $594.86, showing a 2.67% increase in the past 24 hours. Over the recent weeks, BNB’s price has been fluctuating within a range of $635.2 to $501.1. Despite testing the resistance level of $635.2 multiple times, BNB encountered corrections, leading to a downward trend against resistance.</p><p><a href="https://cryptosheadlines.com/floki-teams-up-with-carbon-browser/" rel="noopener noreferrer nofollow">Also Read:   FLOKI Teams Up with Carbon Browser</a></p><p><strong>Potential for Breakthrough:</strong> Should BNB retest the resistance level of $635.2, there exists the potential for it to break through and reach its all-time high (ATH) of $690.93. This would require a price appreciation of 13.32%. However, it’s noteworthy that the Chaikin <a href="https://cryptosheadlines.com/smart-money-flows-in-shib-gala-chz-top-token-inflow-list/" rel="noopener noreferrer nofollow">Money Flow</a> (CMF) indicator stands relatively neutral at 0.07. This suggests minimal buying pressure for BNB at the current moment, highlighting a cautious market sentiment.</p><h2 id="header-3">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

BNB Network Picks Up Speed as DEX Volumes Increase

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