BNB is one of many altcoins severely affected by the SEC’s lawsuit against exchange Binance. However, despite all the volatility and uncertainty, activity on the BNB chain remains high.
According to recent data, the number of active users on the BNB network is 4.02 million, with 3.67 million transactions during the week. One of the reasons that BNB is able to maintain users on its protocol is because of its low gas fees, at 0.00037 BNB.
As DappBay’s Red Alarm flagged more than 35 risky dApps on the BNB chain, including Staker Cafe, Okxo, Pepe Girl, Shiba Reward and Maker Lending, posing a potential risk to users.
The identification of more than 35 risky dApps on the BNB network by DappBay’s Red Alarm has the potential to affect BNB in a number of ways.
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Firstly, users’ trust and confidence in the BNB ecosystem may be impaired due to the presence of insecure dApps, which can make users more cautious when using, affecting the rate of general acceptance.
Despite the increased risks of applications, the BNB chain saw some positives last quarter, growing from 38% at the beginning of Q2 to 45% at the end of Q3. This performance underscores the dominance of the BNB chain and the strong trust developers and users have in its infrastructure.
Along with the protocol, the BNB price also saw some recovery. The trading volume of BNB also increased in tandem with the price.
BNB Price Chart | Source: Tradingview
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