Binance [BNB]: Key metrics rise, but will slow price movement play spoilsport

BNB’s daily average transactions witnessed a massive boost compared to the previous week. Despite its achievements, BNB’s price action can remain dormant for a while.

, at the time of writing, BNB was trading at $323.68 with a market capitalization of over $50 billion.

A look at BNB’s metrics gave an understanding of what went wrong. For example, the token’s MVRV Ratio was resting low, which was bearish.Negative sentiments around BNB also dominated the market, as evident from its weighted sentiment. Due to the slow-moving price action, BNB’s daily on-chain transaction volume in profit also plummeted. Additionally, its velocity also declined, suggesting that BNB’s frequency of transactions was low.

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