BNB’s push above $ 1,100 drew attention to the native names of the BNB chain, investors running in protocols that capture the costs and chain activity.
The activity on the network has increased in part due to the recent approval of the founder of Binance, Changpeng Zhao, BNB channel projects, drawing new attention to the fifth classified token by market capitalization.
Crypto market players often tend to allocate an ecosystem when the basic asset climbs more, liquidity tend to stay within this sector. Protocols that collect costs and route orders tend to move first, followed by the same, then less known fundamental pieces.
The Pancakeswap cake has jumped almost 30% in the past 24 hours, a movement that generally coincides with deeper liquidity on basic swimming pools and stricter propagations on major pairs.
The new tokens also capture offers: Aster has increased by around 18%, reflecting the search for higher beta exposure as the BNB is progressing.
On the other hand, the tokens even such as Floki and Simon’s Cat (CAT) have not yet responded significantly, suggesting that traders prioritize the stories of utility and cash before the bets even focused on feeling.
BNB recovered the zone of $ 1,100 after several attempts and maintained the level during the hours of us, a sign that the cash demand rather than leverage stimulates the move.
Meanwhile, the term contracts on BNB have accumulated more than $ 97 million in liquidations in the last 24 hours, according to Corglass data, just behind the bets linked to ether.
However, the total value of the assets locked on the ecosystem of the BNB chain has increased a tiny 2% in the last 24 hours despite the rise in the BNB market – a sign that the traders have not yet allocated to long -term financial parts on the network beyond the token.
For example, Pancakeswap pocketed just over 1.3 million dollars in negotiation costs in the last 24 hours, well below an average of more than $ 5 million in July, according to data.
