Binance Coin (BNB) has risen for the fifth consecutive day, reaching an intraday high of $545, its highest level since August 27, and up 36% from its August lows. The price increase is driven by improved on-chain metrics, with the number of active addresses rising by 4% in the last 24 hours to 925.7k and transactions increasing by 15% to 4.2 million, the highest in almost a month. However, a broader view shows that on-chain activity is still down significantly from previous highs, with active addresses and transactions having dropped by over 75% from their peaks in December and August, respectively.

Additionally, BNB Smart Chain's fees have declined from $1.5 million in April to $372,000. The total value locked (TVL) in its DeFi ecosystem has also decreased from over $5.8 billion earlier this year to $4.4 billion, with major apps like Venus, PancakeSwap, and Lista DAO leading in TVL. BNB Chain remains the fourth-largest chain in terms of DEX volume, handling $3.6 billion in assets over the last seven days. A potential risk for Binance Coin is its concentrated ownership, with the top ten entities holding 75.6% of all tokens, raising concerns about price volatility if these holders decide to sell. Source: https://crypto.news/bnb-forms-a-rare-bullish-pattern-as-active-addresses-rise/ Show Less