Despite the fact that the top cryptocurrencies declined on August 10, BNB (BNB) is proving to be a strong performer.
Growing concerns over recent US inflation reports caused Bitcoin to briefly lose support at £18,800.
Following suit, the broader crypto market produced many more reds in no time. The BNB token, however, has recovered from the news after experiencing the smallest drop among the top 10 cryptocurrencies.
At the time of writing, BNB was down just 0.8% over the last 24 hours and was trading at £260. This left the token’s weekly gains at 9.2%, according to the latest data.
In the recent months, Binance has been able to create a fairly robust ecosystem. In terms of NFT sales volume during the last 30 days, it is currently the third-largest blockchain.
BNB was third with £13.8 million in accumulation in the past 30 days, just behind Solana and Ethereum. Furthermore, over the past week, two collections from the BNB network made it to the top 30 NFTs.
While Amazy Sneaker has amassed £0.82 million last week, Fitr Gym Bags has accrued nearly £1.60 million. This only proves how fast and wide BNB NFT sector is expanding.
Multiple on-chain data sources also point to BNB’s growth this month. The chain tallied more than 25 million transactions over the last week.
In comparison to the previous week’s 22.1 million transactions, this was a noticeable increase. Additionally, the chain recently made a number of major network development announcements.
This includes AVAX, XRP, and SHIB being added to the Binance Card along with the announcement of the Binance Account Bound (BAB) token.
On the other hand, the media has focused on a legal dispute involving Binance CEO Changpeng Zhao. WazirX, a troubled crypto exchange, claimed that Binance was its owner, although that claim has since been refuted.