Active Development and Buying Activity by Sharks Signals a Stronger Foundation for BNB
Binance Chain [BNB] has shown a strong recovery after recent improvements, featuring faster block times, diverse use cases, and ecosystem expansion. The Maxwell update shortens block times to just 0.75 seconds, improving the speed and reliability of the network.
On the other hand, the number of DApps has surpassed 5,600, with weekly DEX trading volume reaching $27.54 billion. These developments are reinforcing the hypothesis of BNB's utility in the crypto ecosystem.
These network-level developments help create a bullish backdrop for BNB. However, the key question is whether these changes will be enough to impact short-term price action.
Source: Santiment
Is Developer Interest Returning Thanks to Binance Platform Upgrades?
At the time of writing, Binance has temporarily suspended BNB Smart Chain (BEP20) trading for 1 hour to perform system maintenance. Although short-lived, the decision signals a continued focus on network stability and performance.
Additionally, developer activity has started to pick up again, reaching 2.95 after a sharp decline in late May. This trend could indicate a recovery from developers and act as a signal of a sustainable long-term growth cycle.
As long as developer activity continues to recover in June, this scenario could be the start of a healthier growth cycle for BNB.
Source: Coinglass
Are Retailers Still More Confident in BNB?
At the moment, retail traders on Binance seem to be turning bullish on BNB. On June 20, the long/short ratio was 1.74, with 63.45% of accounts holding long positions. This reflects confidence in BNB’s price recovery, as per the chart.
However, the fact that the majority of open positions are long can also create great risk if the price suddenly drops and causes a strong short squeeze.
This shows that, despite the increased positive sentiment in the small community, there are still many questions about whether these developments are fundamentally ground-based or simply short-term sentiment following recent network upgrades.
Source: Coinglass
Why is the lending fee rate still negative despite positive transactions?
Although the long ratio has increased, the borrowing fee ratio remains at -0.007%, indicating that short traders still dominate in determining the cost of holding positions.
This means that cautious sentiment still dominates the margin lending market, reflecting a lack of confidence in BNB’s ability to rally in the short term.
The market may face obstacles in its rallies due to general market concerns, especially from Bitcoin volatility and macro developments.
Source: Santiment
Are big traders positioning for a price breakout?
In recent days, BNB Futures have seen some early signs of positivity from large traders. The average order size remains high, suggesting that whale activity remains steady. Additionally, taker volume tends to dominate – a sign of increasing buying pressure.
Together, these indicators reflect growing confidence among professional or well-funded investors. However, this buying power needs to be sustained over the next few days to confirm a change in market sentiment.
Otherwise, BNB may slow down in accumulation or face bearish pressure while the network ecosystem continues to upgrade.
Source: CryptoQuant
Can BNB's Growth Turn Into Price Profits?
While Binance Chain has made significant progress in terms of utility and system upgrades, supported by increased DEX volume and recovering development activity, the price breakout remains challenging. The margin lending market remains cautious, while whales and large buyers need to maintain long-term interest to confirm a clearer bullish trend.
If the whales continue to step up their buying activity, and the market sentiment becomes more positive, BNB has a good chance of breaking out of its current trading range. However, until these factors materialize, a positive price move remains to be seen.
Source: https://tintucbitcoin.com/bnb-cap-nhat-loi-nhuan-tang-gia-on/
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