Whales are boosting their BNB accumulation as user activity reaches historic highs.

After establishing a local peak at $673, Binance Coin (BNB) has reversed to fall due to escalating geopolitical tensions in the Middle East, retreating to the bottom zone of $639.

However, in the past 24 hours, this altcoin has shown strong resilience by maintaining the support level of $640 and quickly recovering.

This is not a bot action – but a surge from real demand

According to an analysis from Bitcoin Magazine, the recent recovery of BNB is not random or the result of bot activity. The latest on-chain data from Artemis shows that the number of Non-Sybil users — that is, actual users, not virtual accounts or bots — has reached a record high of 1.7 million.

It is noteworthy that this figure excludes "airdrop hunters" and automated activities, indicating that the influx of participants into the BNB ecosystem is entirely organic and authentic. This reflects a trend of sustainable growth, as more and more real users are actively engaging with the BNB Chain network.

Source: Artemis This increase not only reflects the real demand for BNB but also affirms the increasingly important role of this coin in the blockchain ecosystem. Utility, level of interest, and network strength are all being reinforced in a positive direction.

Source: Artemis

In the context of a significant increase in real users, the number of active addresses on the BNB network has exploded, reaching a monthly high of over 2 million addresses. Notably, the number of new wallets also recorded an impressive jump, reaching 595,700 wallets – the highest level of the month.

This strong growth not only reflects the rapid expansion of the BNB ecosystem but also shows the increasing demand for the network. Historically, whenever there is a surge in users, the demand tends to rise, creating a solid foundation for potential price increases.

The derivatives market is "leaning towards the bulls"

In the context of the rapidly increasing number of users, a wave of optimism is spreading within the investor community – especially among institutional investors and whales.

Currently, the majority of newcomers to the market have a positive mindset and belong to the group with strong financial potential. The clear evidence is the CVD (Cumulative Volume Delta) index in the BNB futures market still heavily favors the buyers over the past 90 days, indicating that most taker orders are betting on the bullish trend.

Source: CryptoQuantNotably, the Average Order Size index in the derivatives market has also recorded a return of large trades from whales. On the recent chart, the green dots – representing large orders – appear more densely, confirming that the "big players" have started to return to the game.

Notably, 73% of the total positions in the futures market are currently Long orders, reflecting a strong belief that the upward trend will continue.

All these signals are together painting a promising picture, where optimistic sentiment and expectations for the next upward trend are absolutely dominating the market.

Source: CryptoQuantWith a strong influx of new users and a positive sentiment spreading within the investor community, BNB is facing a great opportunity to continue breaking through.

Previously, on May 6, when the number of users surged to a similar level, BNB broke out of the extended accumulation zone and rose to an impressive high of $692.

If the current positive trend is maintained, this altcoin is likely to complete the reversal pattern and aim for the next target at the level of $674.

However, if the capital flow and interest from new users are not strong enough to maintain the upward momentum, BNB may face a correction and return to test the important support zone at $639.

SN_Nour