BNB price staged a mild recovery, but could lackluster network activity and less-than-stellar Binance launchpad results put a cap on the gains?
BNB (BNB), the native token of BNB Chain, gained 4.1% from Oct. 10 to Oct. 11, signaling resilience after briefly testing the $555 support level.
Ochain activity for BNB Chain dropped by 37% over the past week, raising concerns among investors about the sustainability of the BNB recent outperformance.
BNB's value is partly driven by the offerings of the Binance exchange, including exclusive launchpad access and trading fee discounts, which may reduce the need for BNB usage on the BNB Chain itself.