Tokenized securities are still securities – SEC Peirce’s warning!
- Daily active addresses and transactions on BNB Chain surged to multi-month highs.
- Derivatives volume jumped over 60% as traders bet on volatility around $700 level.
Binance Chain [BNB] has experienced a dramatic spike in user activity, with daily transactions rising from 6 million to over 15 million since early May and active addresses nearing the 2 million mark.
This 150%+ surge in activity pointed to a rapidly growing utility and user engagement across the network. Meanwhile, BNB was trading at $654.03 at press time, reflecting mild intraday weakness of just 0.09%.
Despite the price cooling, the uptick in transactional usage hints at underlying strength in network fundamentals and potential demand-driven momentum.
Source: Nansen/X
Trader confidence begins to wobble
BNB’s Long/Short Ratio on Binance stood at 1.70 at the time of writing, with 63.02% of accounts holding long positions.
While bulls maintained control, recent oscillations in the ratio showed waning conviction as traders shifted between cautious optimism and profit-taking.
Therefore, although sentiment remained positive, reduced stability in long dominance may limit BNB’s ability to mount a breakout in the near term.
Sustained fluctuation in this metric might signal indecision among retail and leveraged traders, exposing the price to sharp swings on either side.
Source: CoinGlass
Options frenzy explodes
Derivatives data revealed a surge in trader participation, with volume climbing 63.83% to $630.92 million and Options volume skyrocketing by 102.71% to $2.37 million.
Furthermore, Options Open Interest jumped 47.29%, reflecting increased hedging or speculative bets. However, Open Interest on Futures rose marginally by 0.67%, suggesting fresh positions are forming slowly.
This divergence between aggressive Options volume and stable Futures activity could imply speculative optimism without deep market commitment.
It raised questions about whether the rally is fueled by genuine demand or short-term leverage.
Will $700 flip or reject?
At the time of press, BNB continued to trade above a key ascending trendline, with the next major resistance level at $700. So far, buyers have defended the $625 support level successfully.
The Stochastic RSI hovered near mid-range levels (41.51), indicating balanced momentum. Therefore, while price action remained neutral to slightly bullish, a strong catalyst is needed to drive a breakout above $700.
A rejection at this level could open the door for a pullback toward $625. This zone now becomes crucial in determining BNB’s short-term direction.
Source: Trading View
BNB’s surging network activity, strong trendline support, and booming derivatives participation reflect growing market interest.
However, the recent dip in long/short conviction showed that traders remained cautious despite the bullish structure. If buyers reclaim control and push beyond the $700 resistance, BNB could extend its uptrend.
Otherwise, failure to generate upward momentum may keep the price confined within the current range, with $625 acting as key support.
