BNB Greenfield Integration with xLog and its Implications
BNB Chain has maintained its position as the second largest blockchain in terms of daily active users. However, recent developments in the network can propel further growth and increase the chances of BNB overtaking Tron on the list.
BNB Greenfield adoption is on the rise, as xLog announced its decentralized blogging platform will integrate with BNB Greenfield. This integration will improve content security, attracting new users onto the platform.
- Improved content security
- Potential rise in fees and revenue
- Increase in BNB adoption
Although Token Terminal reported BNB fees remained high but stagnant over the last 90 days, the integration with xLog can bring in new users and increase fees and revenue.
BNB Performance in the Bear Market
BNB’s price declined by over 2.5% in the last 24 hours, which was comparatively better than most other cryptocurrencies on the list of the top 10 cryptos by market cap. The decline is due to the influence of bears on the entire crypto market, which caused a 3% decline in global crypto market capitalization.
Despite the recent price action, the number of BNB holders increased. However, whale interest has declined as evident from BNB’s whale transaction count.
Positive Signs for BNB Investors
At press time, BNB’s price showed signs of recovery, increasing over 4.5%. BNB’s MVRV Ratio also gave hope for a trend reversal, as it went up slightly on 21 April. As BNB’s price increased, its trading volume also showed a spike, raising the chances of a continued uptrend.
Investors can expect bullish price action for BNB, as suggested by its green hourly chart.
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