In April, Binance Chain (BNB) was the blockchain with the highest number of active addresses, with almost 11 million active users, outperforming competitors like Ethereum and Solana. Additionally, BNB’s GameFi ecosystem contributed significantly to the stability of its blockchain fees and revenue over the past 30 days, with 20 gaming dApps on BNB Chain accounting for 9.17% of the average daily transactions and Gameta recording the highest number of users among all gaming dApps. However, despite BNB’s positive performance in terms of active users and social volume, investors were not happy with the token’s price action, as it remained relatively stable at around $326.18 at the time of writing.
While BNB’s development activity slowed down last week, the Money Flow Index (MFI) indicator recorded a rally and headed above the neutral mark, and the EMA tape suggested that the bulls were leading the market. However, the BNB MACD showed a bearish crossover, indicating potential downward pressure. Nevertheless, with the growing popularity of web3 games and the recent listing of new dApps on BNB Chain, the possibility of a boom in the BNB GameFi space cannot be ignored, and investors may want to wait before making a decision on BNB.
