BNB sets a new all-time high at $1,111 as user metrics fire up

BNB, the native token of the BNB Chain created by Binance, hit an all-time high of $1,111.90, reflecting a significant 7.4% increase over 24 hours and a 17.5% surge for the week. The price boost is attributed to treasury companies acquiring BNB and regular token burns. The broader cryptocurrency market also saw a 1.6% increase, reaching a total market cap of $4.2 trillion. User metrics for BNB Chain improved, as total locked value rose 2.5% to $8.23 billion, with active addresses reaching a record 73.24 million last month. Despite a prior phishing attack on BNB wallets, the blockchain's transaction volume increased, with notable growth recorded in the last month. Upcoming upgrades are expected to enhance network performance, including a reduction in gas prices and a significant increase in block gas limits. To keep pace with user demand, the BNB team aims to upgrade the blockchain architecture for higher transaction speeds and improved functionalities in the coming years, following previous upgrades that enhanced performance and validator networking.

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