- BNB network transactions hit monthly lows; new addresses dropped 25%, signaling fading user demand and engagement yesterday.
- Active traders accelerated selling: High-activity addresses surged as spot volume fell 8% to $1.29B, indicating exits.
Binance Coin (BNB) showed little price movement over the last day, holding near previous levels. However, underlying data suggests weakening demand and growing selling pressure, raising questions about its near-term path.
Interest in using the BNB Chain network has decreased noticeably. The number of daily transactions processed on the chain fell sharply, reaching its lowest point this month. Data from BscScan confirms this decline, showing transactions dropped 12.02% from recent highs to approximately 12.7 million. Fewer transactions typically mean less active use of the network and its native token, BNB.
This cooling interest appears to be discouraging new participants. The count of new addresses created on the chain dropped by 25% within the last day.
Adding to the pressure, existing active users seem to be selling. The number of daily addresses conducting over 100 transactions rose during the same period, according to Artemis. This activity often signals traders moving assets. Supporting this, BNB’s daily trading volume dipped 8% to $1.29 billion.
Derivatives Markets Turn Negative
Sentiment in BNB derivatives markets has also shifted downward. Traders are increasingly positioning for potential price decreases. Options markets showed a strong move away from BNB, with open interest – reflecting active contracts – plunging 71.36% to $3.09 million. This steep drop points to widespread contract closures, likely including many bets on higher prices being liquidated.
A key indicator of overall derivatives mood, the Open Interest Weighted Funding Rate, turned negative, registering -0.0023%. This reading means traders holding contracts betting on lower prices (shorts) are currently paying those betting on higher prices (longs), confirming a prevailing bearish outlook.
Spot Sales Point to Further Weakness
The spot market, where tokens are directly traded, mirrors the cautious behavior seen on-chain and in derivatives. Selling activity increased, with traders exchanging $2.18 million worth of BNB for other assets like stablecoins. Over the past week, this selling pressure accumulated to $36 million flowing out of BNB.
Sustained selling across these areas – reduced network use, bearish derivatives bets, and direct spot market disposals – creates headwinds for BNB’s price. If these conditions persist, further downward movement becomes a distinct possibility.
Binance Coin (BNB) is trading at $648.26 USDT, showing a modest daily gain of +0.15%. The weekly performance is slightly positive at +0.79%, while the token remains under pressure on the monthly view with a −5.85% decline. Year-over-year, BNB is up 11.42%, a respectable return driven by Binance’s sustained dominance in the centralized exchange ecosystem and the expansion of BNB Chain use cases.
From a technical analysis standpoint, BNB is currently exhibiting strong bullish signals across multiple timeframes. On the daily and weekly charts, technical indicators such as moving averages and oscillators are aligned with buy or strong buy signals.
Price volatility remains relatively low at 0.63%, implying reduced intraday whipsaw but steady directional bias. The asset is still trading below its all-time high of $793.86 (set in December 2024), but it’s showing resilience and possible setup for a reaccumulation phase.
In terms of news catalysts, BNB is gaining traction due to ongoing developments within the Binance Smart Chain (BNB Chain), including the upcoming ZK-rollup implementation that promises improved scalability and gas efficiency.
Binance has also launched a new institutional onboarding framework, which has attracted large trading desks and custodians. Additionally, BNB continues to benefit from Binance’s burn mechanism — the latest quarterly burn removed over 2.3 million BNB tokens from circulation, reducing supply and supporting price appreciation.
Another notable development is the increasing adoption of Binance’s Launchpad and Launchpool features, which require BNB staking for participation. This has consistently created periodic demand spikes and has strengthened the token’s utility beyond trading discounts.Â
