- BNB network hits record 3.62M active users as rising on-chain demand fuels a strong price rally above $1,200 support level.
- Analysts monitor BNB for a possible double top pattern while sustained user growth keeps the bullish structure intact into late 2025.
- Allegations of inflated DEX volumes and political ties place Binance under scrutiny as it defends BNB’s expanding ecosystem dominance.
BNB’s blockchain is heating up again, with on-chain activity reaching an all-time high. The Binance Smart Chain recently recorded 3.62 million daily active addresses, marking its strongest user engagement to date. This surge came shortly after BNB’s price peaked at $1,311, indicating a tight link between user growth and price strength.
From late 2024 through October 2025, data shows a strong connection between network expansion and BNB’s market performance. Active addresses remained under 500,000 for most of 2024, while prices hovered between $500 and $700.
However, activity rose sharply in early 2025, passing one million active users and pushing the price toward $900. By mid-2025, the number climbed beyond 1.5 million as BNB’s price approached $1,000. Consequently, a full rally began, sending the asset to its $1,311.71 peak in October 2025.
Technical Tension Builds Near Key Levels
Market watchers now weigh whether BNB is forming a “double top.” Crypto analyst Lark Davis cautioned, “$BNB could be printing a potential double top. The only caveat is that BNB has been a strong coin this cycle.”
Losing that base could confirm short-term weakness. Besides, holding above the $1,200 zone could reinforce bullish momentum through the final quarter of 2025.
Meanwhile, criticism surrounding Binance continues to surface. CryptoMobese alleged that “Binance execs refuse to let any other DEX lead — it’s become an obsession.” The post accused Binance of inflating DEX volumes through PancakeSwap and Aster DEX to drive BNB demand.
Moreover, the report linked Binance to U.S. political probes, claiming senators urged the DOJ to investigate alleged Trump–Binance ties and UAE-linked deals. Consequently, these accusations have added another layer of scrutiny around the exchange’s aggressive BNB strategy.
