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Saturday, June 8, 2024
HomeCryptoNetwork activity helps BNB Chain, Tron lead performance rankings

Network activity helps BNB Chain, Tron lead performance rankings

Binance Coin (BNB) and Tron (TRX) have both faced many challenges in the cryptocurrency space for quite some time. Despite those challenges, the general interest in both BNB and TRON remains consistent.

Tron and Binance remain at the top

Thanks to consistent attention, these networks outperform all other protocols. According to recent data, Tron holds the top position in terms of daily active users.

At the time of writing, the Tron network has more than 2.1 million users. BNB ranks third, with an active user count of 1.08 million.

Source: X

Regarding the DeFi sector, DEX (decentralized exchange) volumes on networks decreased. Among them, BNB showed dominance in the space while Tron was left behind.

Despite the sharp drop in DEX volume, TVL (total value locked) on both networks remains relatively high.

However, in this scenario, Tron outperforms BNB Chain, implying that despite the lower DEX volume, the overall performance of the network remains the same.

BNB

Source: Artemis

One factor that can impact the progress of these networks is social and psychological volume. At the time of writing, social volume on the BNB network skyrocketed.

This means that the network became widely popular in the last few days.

Along with that, the sentiment surrounding the BNB network also turned positive, when the number of optimistic comments about BNB was greater than the number of pessimistic comments at the time of writing.

On the contrary, Tron is not having a good time on the social side. Social volume on Tron decreased significantly over the past few days, implying that the network’s popularity is waning.

TRX’s weighted sentiment also decreased significantly, reflecting an increased number of criticisms of TRX.

BNB

Source: Santiment

Pdevelopment declines

In terms of development activity, the Tron and BNB networks both declined. Reduced development activity may impact the ability to push new upgrades and updates to the network.

If this continues, networks may have difficulty attracting new users.

BNB

Source: Santiment

You can see BNB price and TRX price here.

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According to AMBCrypto

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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