After witnessing a sharp decline from its yearly high of $360, BNB experienced a sharp drop to the $220 level following various actions by US firms. However, recent price movement shows a great sign that investors believe in it and are also bullish about its upcoming momentum.
The BNB chain has been among the top holding positions over the past 24 hours including AVAX, SOL etc. showcasing its usage and adoption. This outperformance contributes to the positive market sentiment surrounding BNB and bolsters its price. Overall, the BNB coin is showing a strong recovery, demonstrating a notable price rally driven by the increasing usage of DApps on the BSC chain.
As of now, at the time of writing this article, BNB coin is trading at around $335 with a market cap of $51 Billion and has grown by more than 25% over the last seven days.