- BNB has rebounded on the management of $ 639 while non -sybular users reach 1.7 million and active addresses reached 2 million.
- If the user and the moment of the whales persist, Binance Coin could target $ 674; Otherwise, a remediation of $ 639 is likely.
After reaching a local summit of $ 673, Binance Coin (BNB) retraced political tensions in the Middle East, reaching a hollow of $ 639.
However, during the last day, Altcoin successfully defended the level of support of $ 640 and rebounded.
These are not bots – it’s an eruption of real demand
According to Ambcrypto’s analysis, new data on the chain suggest that the rebound was not random. Non sybil users of BNB reached a summit of 1.7 million, by Artemis.
These are verified real users, excluding hunters and airlines of airlines, which makes the thrust much more significant.
Source: Artemis
As such, more real people actively use the BNB channel and not bots or aidrop hunters. Thus, there is an increasing interest, a demand and a utility for BNB as the network becomes stronger.
Source: Artemis
In the middle of this growing number of real users, BNB active addresses have also increased considerably, reaching a monthly summit of 2 million. Among these active addresses are new portfolios, which have also increased to a month of 595.7K.
Such a significant increase in active addresses and new entrants reflect growing demand from the chain. Historically, a higher number of users pushes higher demand, which precedes the increase in prices.
The future say “bullish” – and the whales agree
In the middle of a growing user base, bullish feelings are also developing in all market players.
Currently, it seems that users entering the market are mainly optimistic and are also large entities.
Source: cryptocurrency
The BNB (Delta cumulative volume) CVD remains a dominant buyer in the last 90 days. This means that the orders of takers in the term contracts are mainly biased, confirming the condemnation of the market.
What is more attractive: the average size of term orders shows that the major whale trades have returned. Green points dominate recent graphics, confirming that great players come in.
These participants are very optimistic while they enter into term contracts to take long positions, because longs represent 73% of the total contracts.
This implies that bullish feelings are also dominant and that investors predict that prices are increasing more.
Source: cryptocurrency
With the adoption rate that skyrocketed while investors are optimistic, these conditions set the BNB in a favorable position for new gains.
When the number of users reached such levels on May 6, BNB broke out of consolidation and increased to $ 692.
Therefore, if the conditions observed persist, Altcoin will end the reversal of the trend and $ 674.
However, if the number of users incoming does not stimulate BNB higher, the Altcoin will return and remove the support level of $ 639.
