BNB, the native token of the BNB channel and widely used for discounts on transaction costs on Binance, jumped more than 5 % in the past 24 hours, crossing the $ 1,280 mark to reach a new historic summit.
The rally comes as the traders digested the signs of increased demand from institutions and an increasing activity on the underlying blockchain, trained in part by the new decentralized Aster scholarship.
BNB Chain pointed out a record of 58 million monthly active addresses, exceeding 38.3 million Solana according to tokenterminal data. This growth reflects growing use closely linked to Aster, whose total locked value jumped by more than 500 % to $ 2.4 billion, according to Defillama.
Price evolution also coincides with the announcement of a partnership between BNB Chain and Chainlink to chain the official economic data of the United States.
At the height of the rally, the volumes of transactions exceeded the average over 24 hours for a single session. This level of activity suggests that there is a wider force behind the rally.
BNB’s recent decision is based on wider optimism on cryptography markets, although cryptocurrency has outperformed the entire market, as measured by the Coindesk 20 index (CD20), which has only increased by 0.3 % in the last 24 hours.
The market as a whole has recovered in a context of paralysis of the American government which led to delays in data from the Federal Reserve. Consequently, the traders now bet that the Fed will reduce its rates of 25 basic points this month, which will benefit even more risky assets.
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