Stablecoin Proliferation Points Toward Increased Network Activity for Binance Coin (BNB)
Binance Smart Chain Reaches Multi-Year Highs
In a notable development, Binance Coin (BNB) has surged to its highest level since February, trading at $675 on Monday. The token's steady performance comes as investors anticipate the scheduled Maxwell upgrade in June.
The upgraded Maxwell network is expected to significantly reduce block speed to 0.50 seconds, positioning BNB Smart Chain to compete directly with Solana and Ethereum for developer adoption.
Throughout 2025, BNB developers have introduced multiple network improvements, including the Pascal upgrade, which enhanced integration with Ethereum, and the Lorentz upgrade, which increased block processing speed.
Amidst this growth, the stablecoin market cap on BNB Smart Chain has reached an all-time high of $10.1 billion, surpassing previous highs recorded in November 2022. Tether supply surged by 15% over 30 days, reaching $6 billion, while World Liberty's USD1 stablecoin holds over $2.1 billion in assets.
Binance Smart Chain DEX volume has also experienced significant growth, surpassing $102 billion this month, marking the highest volume since November 2021. PancakeSwap dominates trading activity with $92.33 billion in monthly volume and $9.9 billion in the last 24 hours.
Total value locked (TVL) in BNB Smart Chain DeFi protocols has reached $9.32 billion, marking the highest TVL since May 2022. Leading dApps include PancakeSwap, Venus, Lista DAO, and KernelDAO. Lista DAO's assets increased over 50% in the past 30 days.
The technical analysis indicates a potential price target of $1,100 for BNB, as it forms a cup-and-handle pattern. Resistance levels are at $672, $677, and $680, while support levels remain at $665, $662, and $655.
Based on the current trends, Binance Smart Chain is developing into one of the larger blockchain ecosystems in the cryptocurrency market. While specific data on stablecoin supply and TVL are not extensively provided, the overall trend suggests a robust and growing ecosystem.
As for the network activity, the average daily transactions on Binance Smart Chain have increased by 20.9% since the beginning of 2025, while the number of active daily addresses grew by 26.4%. The introduction of Binance Alpha tokens has significantly boosted network activity, with over 1 million new addresses daily linked to Alpha-related activity. Weekly transactions increased by 60%, and weekly trading volume climbed by 114.6%.
Cryptocurrency investing in the Binance Smart Chain platform has shown remarkable growth, with Ethereum-compatible projects and stablecoin market capitalization reaching all-time highs. The technology advancements, such as the upcoming Maxwell upgrade and previous network improvements like Pascal and Lorentz, are positioning BNB Smart Chain to challenge Ethereum and Solana in attracting developer adoption.
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