Where Did the Binance Coin (BNB) Price Ascension Come From?
Altcoins have been surging through February, but Binance's native token, BNB, has zoomed past $100 for the first time at a particularly rapid rate. Below, we look at three of our best metrics to find out why:
Regular hourly address activity is more than triple where BNB was three months ago. It's hard to envision this rate can continue to last, but very encouraging.
Three weeks ago, the largest age consumed spike in BNB's three and a half year history occurred. This was an indication that dormant tokens were on the move, and it wasn't surprising to see prices spike fairly quickly afterward.
NVT Ratio (Token Circulation)
A consistently declining NVT ratio is a great sign, and indicates that token circulation is increasing in comparison to BNB's market cap. As long as this 200-day moving average continues lowering, it's a great sign.