BNB Surges Amid Market Volatility as BNB Chain Activity Hits Record High

Binance Coin (BNB) posted strong gains in the past 24 hours, defying broader market jitters caused by geopolitical tensions between Israel and Iran. The rally comes as usage of the BNB Chain skyrocketed, with daily transactions surpassing 16 million earlier this month—up significantly from around 4 million earlier this year, according to Nansen.

This surge in on-chain activity was largely driven by PancakeSwap, BNB Chain’s flagship decentralized exchange, which saw $2.7 billion in daily trading volume. Over the past month, BNB Chain processed more than $104 billion in DEX volume, outperforming both Solana and Ethereum, based on DeFiLlama data.

Despite macroeconomic uncertainty and brief Bitcoin price drops below $104,000, BNB maintained strong upward momentum. The token traded consistently above the $646 level, peaking at $658, with the rally supported by high trading volume and apparent institutional buying.

Technical analysis from CoinDesk Research indicates a bullish trend, marked by higher lows and sustained above-average trading volumes—key signs of an emerging uptrend. However, BNB derivatives open interest dropped 6.9% week-over-week to $750 million, suggesting some caution among leveraged traders.

Still, market sentiment remains neutral, with the Fear & Greed Index holding at 51, indicating that traders are not overly fearful despite the geopolitical backdrop. BNB’s resilience highlights growing confidence in the BNB Chain’s ecosystem expansion and its ability to weather external shocks.

The combination of rising network activity, strong decentralized exchange performance, and technical strength positions BNB as a standout performer in an otherwise volatile crypto market.