BNB Chain DEX trading volume fell 24% in the past week

BNB Chain’s native token BNB fell 16.1% between August 23 and September 2, from $598.80 to $502.10. The price is currently back up to $517, but investors are concerned about its future direction, especially in the context of the coin’s failure to stay above $610 since mid-June. Activity on BNB Chain has decreased significantly, with trading volume on decentralized exchanges (DEX) in particular plummeting 24% over the past week. In comparison, Ethereum’s activity fell by just 4%. The data also shows that the number of active addresses on BNB Chain dropped by 18%, and the number of active users of the top five DApps also dropped significantly. Although some market participants believe that BNB may rise in anticipation of the release of CZ, fundamental support for such a rise is still insufficient given the weak activity on BNB Chain. Overall, challenges facing BNB include reduced transaction volume and a decline in smart contract deposits. (Cointelegraph)