TL:DR Breakdown
- The Binance Smart Chain has seen a rise in the number of unique addresses.
- 1inch’s expansion to Binance could be the reason for increment.
- The Price of BNB likely to go higher.
Binance Smart Chain unique addresses reaches ATH
Binance Smart Chain (BSC) has seen the number of unique numbers rise to an all-time high of 47.3 million. The increase pegs at a 2,265 percent increment from a little over 2 million on Valentine’s day.
It should be noted that the highest increment of unique addresses on the Binance Smart Chain was seen on the 7th of February, 2021. This increment was on the back of 1inch exchange’s recent DEX system upgrade. They have gone further to announce that the 1inch token would soon be deployed on the BSC. The official statement stated that 1inch token’s expansion to the BSC will help users to gain access to all the DEXs that are connected to Binance.
Binance Smart Chain’s unique addresses increase might push BNB price higher
The 1inch token would be serving as a bridge between the Ethereum and Binance networks. Once a 1inch token is sent to the Binance Smart Chain, it would be locked on the bridge, and in turn, an equivalent value of the same token on Binance would subsequently be unlocked. This will allow 1 inch users to gain access to tokens like PancakeSwap, BakerySwap, and other DEXs that are based on Binance Smart Chain.
The obvious increment in unique addresses on the BSC would definitely see the increase in transactions that involves the Binance coin. The increment was reported earlier in February and the BNB was found to have risen from $50 to a whopping $349 before the 20th of February. So it is highly possible that the BNB would grow in price in the coming days.
