BNB Chain's revenue took a hit after it recently announced an impressive Quarter-on-Quarter (QoQ) hike. For those unfamiliar,
The principal source of the network’s revenue is trading fees. While fees might vary depending on the volume, a surge in demand for BNB triggers a revenue increase.Therefore, the recent decline could be linked to decreasing activity on the decentralized protocol. Furthermore, the DEX volume showed proof of the declining activity as it was less than $1.5 billion.
For most of March, the volume surpassed $2 billion at different intervals. Concerning Binance Coin’s price, CoinMarketCap showed that the value had decreased by 6.72% in the last 24 hours. This price was a reflection of the bearish market condition and decreasing demand for the coin. If the price of BNB continues to fall, it might be challenging for the chain to register a surge in revenue.At press time, the metric was -0.34, suggesting a broader bearish perception around the coin. However, one thing, AMBCrypto observed was that the sentiment trended higher.that the reading fell. An increase in social dominance might have signaled a surge in BNB’s popularity among traders.
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