BNB, the native token of the BNB chain and widely used for discounts on transaction rates in Binance, increased more than 5% in the last 24 -hour period, crossing the $ 1,280 mark to reach a new historical maximum.
The rally occurs when merchants digested signs of greater demand for institutions and growing activity in the underlying block chain, partly driven by the newly released Aster decentralized exchange.
BNB Chain reported a record of 58 million monthly active addresses, exceeding 38.3 million solana according to Tokentermal data. Growth reflects a growing use that is closely linked to Aster, which saw its total value blocked in a more than 500% jump to $ 2.4 billion, according to defillama.
The price movement also coincides with the announcement of an association between BNB Chain and Chainlink to bring the official economic data of the United States in the chain.
During the peak of the rally, commercial volumes exceeded the average of 24 hours for a single session. That level of activity suggests that there is a broader force behind the rally.
The recent BNB movement is based on a broader optimism in cryptographic markets, although cryptocurrency has exceeded the widest market measured by the Coindesk 20 (CD20) index, which increases only 0.3% in the last 24 hours.
The widest market has been gathering in the middle of a closure of the United States government that has left the Federal Reserve with data delays. As a result, merchants are now betting on the Fed will reduce rates by 25 BP this month, further benefiting risk assets.
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