Trading volumes of ecosystem tokens more than doubled in the past 24 hours, with meme coin FLOKI leading gains among larger tokens.

The BNB Chain ecosystem has recently seen a significant increase in activity, token prices, and trading volume. The native BNB token reached an all-time high of over $710, driven by several factors, including token burns, a large user base in the Eastern world, and technical features that enable the development of low-cost projects.

Key Developments:

1. Record Price and Trading Volume:
- The BNB token hit a record price above $710, with trading volumes of BNB Chain-based tokens increasing by 124% in the past 24 hours.
- Notable gains were observed in tokens like FLOKI, which rose by more than 25%, and PancakeSwap’s CAKE, which jumped 15%.

2. Smaller Projects Seeing Exponential Gains:
- The trading service Sensi’s SENSI token saw its price skyrocket by 900%, with trading volumes increasing from $14,000 to $100,000.

3. Value Locked in Ecosystem:
- The value locked in BNB ecosystem projects rose by nearly 8%, led by platforms like PancakeSwap and Venus.
- Net inflows into the ecosystem topped $2.4 million, reversing a trend of net outflows since May 30.

Factors Contributing to the Surge:

1. Token Burns:
- BNB's price gain is partly due to ongoing token burns, which permanently remove tokens from circulation by sending them to an inaccessible address. Nearly $400,000 worth of BNB was burned in the past week.

2. Large User Base and Activity:
- The BNB Chain benefits from a large and energetic user base, particularly in the non-Western world. Its lower gas fees and faster transaction speeds have made it a preferred blockchain for many projects.

3. Fundamentals and Campaigns:
- The BNB Chain has ramped up its campaigns and activities, promoting its technical features and fostering a robust ecosystem for decentralized applications.

4. Support from Binance:
- Initially developed as Binance Smart Chain, BNB Chain continues to receive development and funding support from Binance, the world's largest cryptocurrency exchange.

Market Sentiment and Future Outlook:

Market observers suggest that the BNB Chain's fundamentals are strong, with a robust technical infrastructure and an extensive user base driving its recent success. Despite some negative narratives, the BNB Chain is recognized for its scalability and widespread use, especially among users outside the Western world.

The surge in BNB’s price and ecosystem activity highlights the growing interest and investment in the BNB Chain, making it a significant player in the broader cryptocurrency market.