coindesk.com
BNB rose 4.25% to $891 in the past 24 hours, even as usage of its underlying blockchain saw a decline.
The move comes amid growing tension between weak current fundamentals and longer-term upgrade plans that promise faster speeds and broader use cases, according to CoinDesk Research's technical analysis data model.
BNB Chain's daily transactions have dropped nearly 50% to 15.1 million in November, according to DeFiLlama data. Network utilization fell to 19%, while decentralized exchange volumes shrank by over $5 billion.
This activity slowdown coincides with BNB falling below the $1,000 mark earlier in the month, a drop in the memecoin trading frenzy that helped boost onchain volumes across multiple networks, and a wider crypto market drawdown that saw bitcoin briefly drop as low as $82,000.
Despite those headwinds, price action has remained stable. BNB is consolidating just below the $900 mark, with tight trading ranges and declining volume suggesting large market participants may be repositioning.
Looking ahead, BNB’s 2025–2026 roadmap is focused on performance upgrades aimed at supporting institutional-grade DeFi and AI applications.
The SEC is currently still reviewing VanEck’s proposed spot BNB ETF, which could bring in further demand for the cryptocurrency.
BNB’s token burn mechanics also continue to reduce supply, with $1.2 billion worth burned in Q3 2025. But lower onchain activity may weaken the pace of future burns.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.