BNB Chain lures in users with these new updates

• BNB Chain introduced updates for its Beacon Chain and opBNB within the final seven days. 
• BNB’s value went down within the final 24 hours, and metrics had been bearish.

BNB Chain [BNB] as soon as once more managed to maintain its community exercise excessive, which was revealed by its newest weekly report. A potential purpose behind this efficiency was additionally talked about within the report, which may very well be the newest updates. Not solely did BNB launch new updates for its Beacon chain, but additionally for its newest layer-2 opBNB. 

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Aside from community exercise, Artemis’ data revealed that the blockchain’s TVL additionally gained upward momentum over the previous few weeks. Whereas this occurred, BNB’s weekly chart turned inexperienced like most different cryptos, due to the bullish market situation. Nonetheless, issues modified as its every day chart registered a decline. 

BNB Chain’s growth is a key issue 

BNB’s weekly report talked about that the blockchain’s weekly common customers remained above the 4-million-mark final week, which was commendable. Its weekly transactions exceeded 22 million. Whereas BNB’s common every day energetic customers crossed 1 million, its every day transactions reached 3.82 million. Not solely that, however the blockchain’s charges additionally remained fairly low final week. These metrics clearly recommend large utilization of blockchain.

BNB CHAIN NEWS: Hackvolution Version!

Time to catch-up on all the pieces that occurred on our blockchain this previous week. Learn forward for the newest updates about:

New tasks on BNB Chain
Our brand-new hackathon
Tech and safety updateshttps://t.co/yPry7rusXc

— BNB Chain (@BNBCHAIN) July 16, 2023

The explanation behind this efficiency could be traced to the updates launched by the blockchain for its Beacon chain and its layer-2 opBNB. To start with, the blockchain introduced the discharge of its BNB Beacon Chain Mainnet ZhangHeng Improve. As per the announcement, the mainnet improve will go dwell on 19 July 2023.

BNB Chain is anticipated to have the scheduled exhausting fork improve at block peak 328,088,888. Mentioning opBNB, the blockchain has partnered with NodeReal, a number one supplier of scalable, dependable, and environment friendly blockchain options. Moreover, opBNB’s explorer is now accessible by way of NodeReal’s platform, offering customers with enhanced visibility and transparency into the opBNB ecosystem. 

How a lot are 1,10,100 BNBs value at present        

A take a look at BNB’s state

Amidst this, BNB registered a value uptick final week. As per CoinMarketCap, the coin’s value went up by 4% within the final seven days. Nonetheless, the successful streak ended, as within the final 24 hours, the coin’s value went down by over 2%. At press time, it was buying and selling at $242.62 with a market capitalization of over $37.8 billion.

A take a look at BNB Chain’s on-chain metrics instructed that the declining pattern would possibly proceed. Damaging sentiment round BNB spiked in the previous few days. Moreover, its 1-week value volatility plummeted, which was bearish. Nonetheless, it was fascinating to notice that regardless of the worth drop, BNB’s MVRV Ratio remained fairly secure.

Supply: Santiment