Number of Active Users in This Altcoin Reached an All-Time High – What Does This Mean for the Price?

Cryptocurrency analytics firm CryptoQuant has released a new report examining the record-breaking activity on the Binance Smart Chain (BSC) network and its impact on the BNB ￰0￱ to the report, the number of daily active addresses on the BSC network reached an all-time high of 3.62 ￰1￱ record followed a price increase that began in June and accelerated after ￰2￱ BNB price peaked at $1,311 on October 8th, and a surge in active addresses a few days later demonstrated the strong correlation between network growth and ￰3￱ News: List of Altcoins with the Highest Number of Token Holders Published - Big Surprises CryptoQuant analysts note that an extraordinary coordination has emerged between the BNB price and the number of active addresses since September ￰4￱ two indicators, which previously operated independently, have recently been moving in ￰5￱ analysis suggests that the price peak occurred just before the active address explosion, which may have led to an influx of new users due to the “FOMO” effect.

However, the report notes a drop in active addresses below 3 ￰6￱ notes that whether this level can be maintained is critical: “Staying above 3 million daily active addresses is crucial for the continuation of the uptrend. A drop below this level could signal a local top and increase the likelihood of a deeper correction.” *This is not investment ￰7￱ Reading: Number of Active Users in This Altcoin Reached an All-Time High – What Does This Mean for the Price?