In brief:
- Binance Coin whales holding 100,000 or more BNB have increased from 26 to 48 in 6 months
- This is an increment of 84.6% in half a year
- Activity on the Binance Smart Chain continues to skyrocket
- Binance Coin will continue to thrive due to increased use of the Binance Smart Chain
The number of Binance Coin whales holding 100,000 or more BNB has seen an 84.6% increment in the last 6 months. This is according to data shared by the team at Santiment that also explains that the number of investors in this category increased from 26 to 48 in the stated time period. Their analysis of Binance Coin was shared via the following statement and accompanying chart demonstrating the growth of BNB Whales.
#BinanceCoin has now reached a staggering All Time High of ~$175, & has decoupled from Bitcoin (also another ATH today). There were 26 BNB addresses with 100k+ tokens 6 months ago, compared to 48 four weeks ago, just prior to BNB‘s initial liftoff.
Activity on the Binance Smart Chain Continues to Skyrocket
In an earlier analysis, it was observed that the daily transactions count on the Binance Smart chain had exceeded that of Ethereum. Checking the metrics once again reveals that the Binance Smart Chain has processed 2.124 million transactions in the last 24 hours. In the case of Ethereum, the network has processed 1.258 million transactions.
Doing the math, the daily transaction count on the Binance Smart Chain has almost doubled that of Ethereum. The CEO of Binance, CZ, shared this milestone via the following tweet.
There are almost 2x more transactions on #BSC than on ETH.
If you want more users for your Dapp, you need to be on #BSC now. pic.twitter.com/ZYnbFOVysc
— CZ 🔶 Binance (@cz_binance) February 18, 2021
Binance Coin Hits a New All-time High of $199.67
High network activity goes hand in hand with a corresponding increment with the native token of a blockchain network. In the case of the Binance Smart Chain, BNB has printed a new all-time high of $199.67 having gained 57% from yesterday’s low of $127.
The massive gains exhibited by Binance Coin (BNB) are also due to increased trading activity on the decentralized exchange of PancakeSwap. The latter platform is now the second-largest DEX in terms of trade volume as highlighted by CZ once again via Twitter.
Just a matter of time now. Kudos to @PancakeSwap 👏👏👏 https://t.co/lutijNZwQZ
— CZ 🔶 Binance (@cz_binance) February 18, 2021
Chances are, that Binance Coin will continue to thrive throughout the year as more DApps are built on the Binance Smart Chain lured by lower fees when compared to Ethereum.