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One of the year’s top blockchain and web3 events, Binance Blockchain Week, is set to begin tomorrow, Nov. 8.
Ahead of the event, an X account which often reports on the movement of whales called Lookonchain, shared the prices of five Binance-associated tokens have seen a surge over the past month with double and triple-digit growth.
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A look on chain
According to a post on X from Lookonchain, a cryptocurrency on-chain data analysis company, five tokens saw surges, including BNB with an 18% increase, TWT rising by 77%, CAKE soaring 95%, XVS with a 43% uptick, and APX leading the charge with an impressive 178% growth.
Notable on this list include Trust Wallet (TWT), a mobile cryptocurrency wallet that Binance acquired in 2018 that is now seeing a price resurgence ahead of its launch, and Pancake Swap, a decentralized exchange built on the Binance Smart Chain that boasts $1.484 billion in TVL.
1/ As #BinanceBlockchainWeek approaches, the price of Binance-related tokens has surged over the past month.$BNB 📈 18%.$TWT 📈 77%.$CAKE 📈 95%.$XVS 📈 43%.$APX 📈 178%.
— Lookonchain (@lookonchain) November 7, 2023
What are these tokens?
Who is buying these tokens? pic.twitter.com/eViRqbwDQ2
Lookonchain also highlighted notable purchasers, including wallet 0x8945, which withdrew 1 million TWT or $1.63 million when the price of the token was $1.22.
As a result, data released by 0xScope on Nov. 6 showed the world’s largest cryptocurrency exchange by market cap was facing a decreasing market share, where it currently sits at 51.2%, following a 10% decrease in trading volume.
Read more: Research reveals Binance’s shrinking market share in CEXs