BNB Chain struggles post CZ’s departure, what now?



Title: Binance Smart Chain: New dApps Launched Amidst CEO’s Resignation

When Binance’s [BNB] former CEO Changpeng Zhao (CZ) submitted his resignation a few days ago, it took a toll on BNB Chain. Not only did BNB’s price drop, but the blockchain’s overall network activity also took a blow. However, despite the challenges, the blockchain recently added new dApps, which could potentially help turn its fortunes around.

CZ’s Resignation and Its Impact

Binance’s CEO resigned as part of a $4 billion settlement between United States regulators, which directly affected BNB and its network activity. According to reports, BNB Chain’s Daily Active Addresses and Daily Transactions plummeted. The blockchain’s captured value, fees, and revenue also decreased significantly, reflecting the impact of CZ’s resignation.

New dApps to Revive BNB’s Network Activity

Despite the challenges, BNB Chain launched six new dApps, including Dechat, ScarQuest, Sekuya, SinVerse, Ramper, and BinaryX. These dApps operate in gaming, SocialFi, and infrastructure spaces, potentially attracting new users to the network and reviving BNB Chain’s declining network activity.

Price Action and Market Indicators

BNB’s price dropped by more than 6% in the last seven days, trading at $230.92 with a market capitalization of over $35 billion. Market indicators displayed a bearish trend, with MACD, CMF, and MFI signaling a possible further price drop. However, if the MFI enters the oversold zone, it could lead to a trend reversal, potentially increasing buying pressure.

Conclusion

Despite the turmoil caused by CZ’s resignation, BNB Chain continues to push forward with the launch of new dApps. The addition of these dApps could potentially attract new users to the network and help in reversing the declining network activity. While market indicators currently point to a bearish trend, the potential for a trend reversal offers hope for BNB Chain investors.



### News source: eng.ambcrypto.com

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