BNB 飆升，縮小與以太坊的差距

BNB 最近的飆升已將其價值推升至近 620 美元，縮小了與以太坊的差距。分析師將這種增長歸因於現貨比特幣 ETF 和 DeFi 的勢頭。儘管總鎖定價值（TVL）下降，但 BNB 鏈仍然活躍，DApp 參與度很高。資金流入現貨比特幣 ETF 對加密貨幣市場產生了積極影響，BNB 的價格軌跡一直看漲，3 月上漲了 61.7%。然而，勢頭已經減弱，引發了人們對 BNB 是否有能力將漲勢維持在 620 美元以上的質疑。

BNB Soars to New Heights, Narrowing the Gap with Ethereum

BNB飆升至新高度，縮小與以太坊的差距

In the rapidly evolving cryptocurrency landscape, Binance Coin (BNB) has emerged as a formidable force, recently registering an impressive 12% surge in value. This upward trajectory has propelled BNB to a valuation of nearly $620, significantly closing the gap with its primary competitor, Ethereum (ETH).

在快速發展的加密貨幣領域，幣安幣 (BNB) 已成為一股強大的力量，最近其價值飆升了 12%，令人印象深刻。這種上升趨勢已將 BNB 的估值推至近 620 美元，大大縮小了與其主要競爭對手以太坊 (ETH) 的差距。

Driving Factors Behind the Surge

激增背後的驅動因素

Analysts attribute BNB's upward momentum to a confluence of factors, including the impact of spot Bitcoin exchange-traded funds (ETFs) and the sustained growth of decentralized finance (DeFi) projects. The influx of capital into spot Bitcoin ETFs has imparted a positive sentiment to the broader crypto market, although a temporary setback occurred in the week ending March 23. Nevertheless, encouraging indicators, such as the decrease in outflows from funds like Grayscale GBTC, suggest a potential resurgence in investor confidence.

分析師將BNB的上漲動力歸因於多種因素的綜合作用，包括現貨比特幣交易所交易基金（ETF）的影響和去中心化金融（DeFi）項目的持續成長。儘管截至3 月23 日的一周出現了暫時的挫折，但資金湧入現貨比特幣ETF 給更廣泛的加密貨幣市場帶來了積極情緒。儘管如此，令人鼓舞的指標（例如Grayscale GBTC 等基金的資金流出減少）表明，投資者信心可能會復甦。

BNB's price momentum has been undeniable, particularly during the first half of March, when it witnessed a remarkable 61.7% increase. However, this upswing encountered a temporary pause after BNB reached a peak of $645, prompting speculation about whether it has reached its zenith. Contextualizing this surge within the broader context of BNB's historical performance, such as its all-time high valuation of $116 billion in November 2021, provides valuable insights for evaluating its current trajectory.

BNB 的價格動能是不可否認的，特別是在 3 月上半月，其漲幅高達 61.7%。然而，在 BNB 觸及 645 美元高點後，這一上漲勢頭遭遇暫時停頓，引發人們對其是否已達到頂峰的猜測。將這種飆升置於 BNB 歷史表現的更廣泛背景下，例如 2021 年 11 月達到 1,160 億美元的歷史最高估值，為評估其當前軌跡提供了寶貴的見解。

On-Chain Metrics and User Engagement

鏈上指標和用戶參與度

Delving into on-chain data from BNB Chain, which represents deposits in the network's smart contracts, reveals a notable decline in total value locked (TVL). This metric, which peaked at $15.7 billion, has recently fallen to just $7.1 billion. However, it is essential to recognize that this decrease aligns with the broader contraction of DeFi projects since late 2021.

深入研究 BNB 鏈（代表網路智慧合約中的存款）的鏈上數據，發現總鎖定價值 (TVL) 顯著下降。這項指標一度達到 157 億美元的峰值，最近已降至 71 億美元。然而，必須認識到，這種下降與 2021 年底以來 DeFi 計畫的更廣泛收縮是一致的。

Despite the decline in TVL, BNB Chain continues to demonstrate promising levels of user engagement and adoption. Decentralized applications (DApps) on the BNB Chain, including non-fungible token (NFT) marketplaces, games, and social networks, maintain significant popularity. In the past week alone, nearly 2 million active addresses have engaged with DApps on the BNB Chain, highlighting the platform's sustained relevance and utility.

儘管 TVL 下降，BNB Chain 仍然展現出良好的用戶參與度和採用率。 BNB 鏈上的去中心化應用程式 (DApp)，包括不可替代代幣 (NFT) 市場、遊戲和社交網絡，仍然非常受歡迎。僅在過去一周，就有近 200 萬個活躍地址與 BNB 鏈上的 DApp 進行了互動，凸顯了該平台的持續相關性和實用性。

Market Sentiment and Future Prospects

市場情緒與未來前景

The cryptocurrency market's recent uptrend has been significantly influenced by the movement of funds into spot Bitcoin ETFs. Despite experiencing a setback in late March with a net outflow of $890 million, recent figures show a promising decrease in outflows from Grayscale's GBTC fund, hinting at a potential shift in sentiment.

加密貨幣市場近期的上漲趨勢受到資金流入現貨比特幣 ETF 的顯著影響。儘管 3 月底遭遇挫折，淨流出 8.9 億美元，但最近的數據顯示，Grayscale 的 GBTC 基金的流出量有望減少，暗示市場情緒可能發生轉變。

BNB's price trajectory in the first half of March was undeniably bullish, with a staggering 61.7% increase. However, momentum waned after hitting a peak of $645, coinciding with a market capitalization of $96.4 billion. While BNB reached its all-time high valuation of $116 billion in November 2021, the recent surge has rekindled optimism among investors.

3 月上半月，BNB 的價格軌跡無可否認是看漲的，漲幅更高達 61.7%。然而，在觸及 645 美元的高峰（此時市值為 964 億美元）後，勢頭減弱。儘管 BNB 估值在 2021 年 11 月達到 1,160 億美元的歷史新高，但近期的飆升重新點燃了投資者的樂觀情緒。

Assessing BNB Chain Metrics

評估 BNB 鏈指標

A thorough examination of on-chain data from BNB Chain provides valuable insights into the current landscape. Total value locked (TVL) on BNB Chain, representing deposits in the network's smart contracts, experienced a notable decline from $15.7 billion at the peak to just $7.1 billion recently. However, it is essential to contextualize this decrease within the broader crypto market, particularly the contraction seen in decentralized finance (DeFi) since late 2021.

對 BNB 鏈上鏈上數據的徹底檢查為當前情況提供了寶貴的見解。 BNB 鏈上的鎖定總價值（TVL）（代表網路智慧合約中的存款）經歷了顯著下降，從高峰的 157 億美元降至最近的 71 億美元。然而，必須將這種下降與更廣泛的加密貨幣市場結合起來，特別是自 2021 年底以來去中心化金融 (DeFi) 的收縮。

While TVL serves as one metric for evaluating a blockchain's success, it is crucial to consider other factors, such as user activity and adoption. In this regard, BNB Chain's resilience and continued engagement from users paint a positive picture for its future prospects.

雖然 TVL 作為評估區塊鏈成功的指標之一，但考慮其他因素（例如用戶活動和採用率）也至關重要。在這方面，BNB Chain的韌性和用戶的持續參與為其未來前景描繪了一幅積極的圖景。

Can BNB Break Past $620?

BNB能否突破620美元？

As investors and analysts monitor BNB's performance, one question remains: Can Binance Coin break past the $620 mark and sustain its bullish momentum? While on-chain and derivatives metrics provide positive indications, only time will tell whether BNB's rally is just getting started or approaching a peak. In the dynamic world of cryptocurrencies, one thing is certain: expect the unexpected.

當投資者和分析師關注 BNB 的表現時，仍然存在一個問題：幣安幣能否突破 620 美元大關並維持看漲勢頭？雖然鏈上和衍生性商品指標提供了積極的跡象，但只有時間才能證明 BNB 的反彈是剛開始還是接近頂峰。在加密貨幣的動態世界中，有一件事是肯定的：期待意外的發生。