- Daily revenue decreased as well as the coin’s price.
- The sentiment and social data suggested that BNB could be set to recover.
BNB Chain’s revenue took a hit after it recently announced an impressive Quarter-on-Quarter (QoQ) hike.
For those uninitiated, BNB Chain is the blockchain network that supports smart contracts and decentralized Applications (dApps).
It should not be confused with Binance Coin [BNB], the exchange cryptocurrency of Binance. According to Artemis, the revenue recorded on the 15th of April was $62,500.
This figure was one of the lowest the chain had hit since February.
Network activity drops
The principal source of the network’s revenue is trading fees. While fees might vary depending on the volume, a surge in demand for BNB triggers a revenue increase.
Source: Artemis
Therefore, the recent decline could be linked to decreasing activity on the decentralized protocol. Furthermore, the DEX volume showed…
