Against the backdrop of widespread fluctuations in mainstream crypto assets, BNB has quietly been accumulating a new strength. Although BNB, ranked fifth by market capitalization, has shown some weakness in the short term, the market is sending two strong signals that cannot be ignored: a surge in new users and a spike in on-chain fees.
These two changes may be laying the groundwork for BNB's next strong breakthrough.
New users pouring in, on-chain activity exploding
On-chain data shows that in the past 24 hours, the number of new users on the BNB smart chain has surged by 26%, with a daily increase of up to 589,657 addresses. This surge directly boosted network activity and simultaneously drove up transaction fees.
Latest data shows that total transaction fees have increased by 20.91%, reaching 933.23 BNB, approximately $624,000 at market value, marking a new high since May 21. This increase in transaction fees is not just a product of short-term market fluctuations but is a direct reflection of enhanced user activity and increased on-chain demand.
More importantly, the average transaction fee has also risen by 12.5%, reaching $0.04. Generally, an increase in transaction fees is viewed as a signal of increased on-chain usage, and an active network often indicates an expansion of underlying demand, providing upward pressure on prices.
Mlion.ai's on-chain data analysis module has monitored that the frequency of on-chain interactions for BNB has continued to rise in the past week, with user growth and trading volume curves showing a synchronized expansion trend, which is a typical precursor to a fundamentally driven price increase.
Spot selling, futures position building, market undercurrents in motion
Although on-chain data shows positive signals, the spot market appears somewhat hesitant in the short term. Data indicates that some spot holders chose to take profits after BNB reached new highs, with profit-taking funds amounting to $2.61 million in the past 24 hours, creating a certain degree of selling pressure.
However, the situation is completely different in the derivatives market. Data from open contracts and weighted financing rates show that bullish sentiment in the market remains strong. The current weighted financing rate is 0.0026%, maintaining in the positive range, indicating that funds continue to increase positions on the futures side, with bullish sentiment stable.
More noteworthy is that the accumulation and distribution (A/D) indicators monitored by Mlion.ai remain in a strong upward channel, indicating that although there is some profit-taking in the short term, overall capital is still actively accumulating. The continued rise of the A/D indicator means that capital has not flowed out of the market but has instead shifted into the hands of more patient medium to long-term holders.
From a market structure perspective, this pattern of 'spot profit-taking + futures position building' is often an important signal that a market move is imminent.
The rebound opportunity is approaching, can BNB break through new highs?
Looking back at BNB's on-chain data and price trends since May 21, whenever there is a significant increase in network usage and transaction fees, BNB's price tends to follow with a rebound. This time, the comprehensive warming of on-chain indicators, along with changes in capital flow in the spot and futures markets, points to a potential conclusion: BNB is at the starting point of a new rising cycle.
If the momentum of user growth and on-chain fees continues to remain high, while the A/D indicator continues its upward trend, breaking through previous highs in the short term will no longer be a wishful thinking for BNB.
At such a market juncture, AI research assistants like Mlion.ai become particularly important. Mlion.ai helps investors capture potential market turning signals in a timely manner by monitoring on-chain data changes, trading behavior patterns, and market sentiment fluctuations in real-time, providing accurate risk assessments and trend predictions.
For investors looking to position themselves for BNB's potential new high market, keeping a real-time grasp on on-chain capital dynamics and trading activity changes may be the key to seizing opportunities.
Summary
Although BNB has experienced fluctuations in the short term, the surge in new users and the spike in transaction fees are quietly accumulating momentum for the next round of increases. The interplay of selling in the spot market and position building in the futures market creates a subtle shift in capital.
Disclaimer: The above content is for informational sharing only and does not constitute any investment advice!
