BNB’s weekly report listed all of the network’s updated stats.
The stats continued to favor the BNB, but the technical indicators favored the bears.

Binance coin [BNB] recently released the latest edition of its weekly report, highlighting all the major developments that have occurred in its ecosystem over the past seven days.

Not only were there new updates, but the report also listed the latest statistics about the network. For example, during the past week, the average daily transactions were 2.62 million. Reportedly, the weekly and daily average users over the past seven days were 2.48 million and 761,000, respectively.

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A happy week indeed

Apart from this, the blog also mentioned that Joespeg’s NFT marketplace has been launched on BNB. This was a positive update as it would help BNB continue to grow its NFT ecosystem.

Interestingly, Santiment’s chart showed that BNB’s NFT space has seen growth over the past seven days. The total number of NFT transactions and NFT trading volume in USD increased during the week.

Source: Sentiment

BNBThe company’s statistics performance also continued to favor investors. For example, the coin’s MVRV ratio registered an increase, which was bullish.

Positive sentiment around BNB has surged in recent days, reflecting investor confidence in the currency.

In addition, the alt’s funding rates rose last week, demonstrating demand in the futures market. While the rate of BNB remained low, it surged on January 29, 2023.

Source: Sentiment

How many 1,10,100 BNBs worth today

Expectations need to be checked

While the stats were bullish, BNB’s daily chart revealed that days could soon get tougher. The Bollinger Bands pointed it out BNBThe price of the price entered a squeeze zone, which reduces the chance of a breakout to the north.

The Relative Strength Index (RSI) was moving into overbought territory. In addition, the MACD revealed an ongoing battle between the bulls and the bears.

And given the indicators mentioned above, the bears were more likely to win. Nevertheless, the Exponential Moving Average (EMA) ribbon gave hope for a price pump, and according to the data, the bulls still led the market.

Source: TradingView

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