Journalist
Posted:
- Recently, U.S. regulators approved the restoration of USD deposit and withdrawal services on Binance.US.
- Total Value Locked (TVL), daily active addresses, and transactions have barely responded to the news.
Over the past 24 hours, Binance Coin’s [BNB] price has remained nearly stagnant, slipping 0.84%. This minor decline is insufficient to signal a clear market direction.
Last week, BNB recorded its highest monthly loss, dropping 9.28%. However, AMBCrypto has yet to identify any market triggers that could drive a significant rally reversing this loss or sufficient to cause further decline.
U.S. reopens USD services for Binance.US
Binance.US, the U.S. focused arm of Binance and an exchange affiliated with BNB, has received regulatory approval to resume USD deposit and withdrawal services as of the 19th of February.
The exchange had halted these services under the Biden administration due to increased scrutiny from the Securities and Exchange Commission (SEC).
According to Binance.US, eligible customers can now deposit and withdraw USD via bank transfers, access USD trading pairs, and purchase crypto with fiat.
At launch, only 10 USD trading pairs—including BNB/USD—will be supported.
Typically, this would indicate a potential influx of USD into Binance.US, with U.S. investors expected to increase BNB purchases due to its exchange affiliation.
However, key metrics suggest otherwise—BNB trading activity has remained subdued, and its price has yet to see any significant movement.
Following the announcement, liquidity inflows into the BNB ecosystem remained low, reflecting weak investor engagement.
As of now, the total value locked (TVL), which measures the value of assets held within BNB’s ecosystem, stands at $5.527 billion—a marginal increase from its February 18 low of $5.502 billion, with just $25 million added.
Source: DeFiLlama
This sluggish liquidity flow indicates looming investor skepticism, keeping BNB’s price under pressure.
Trading activity and engagement remain low
Data from Artemis reveals that trader confidence in BNB remains weak, with only a slight uptick in daily active addresses and transaction volume.
Daily active addresses—representing unique wallet interactions within the ecosystem as senders or receivers—have risen from 1 million on the 15th of February to 1.3 million.
Meanwhile, daily transactions increased from 4.8 million to 5.6 million over the same period.
Source: Artemis
While this suggests some renewed interest in BNB, it has not been enough to drive a meaningful price surge, as the overall investor sentiment remains cautious.
