- BNB Chain’s Greenfield Mainnet went live as the network to provide data storage through decentralization.
- BNB bulls defended the $205 support and could push the price up to $225.
- BNB Chain’s architect assured users of data control and little to no risk related to breaches.
In June, on-chain insight platform Nansen recognized BNB Chain as the largest smart contract blockchain. This was after the chain beat the likes of Tron, Solana, and Ethereum to the highest number of active addresses at that time.
However, it seems BNB Chain is not resting on its oars following the public launch of the Greenfield Mainnet on October 17. For context, the Greenfield Mainnet is a storage-oriented blockchain that manages user rights, bucket creation, and file deletion to transform the way users interact with their data on the BNB Chain.
According to the project’s official announcement on X (formerly Twitter), Greenfield recorded a number of milestones while in its Testnet stage. One of the notable landmarks registered was the 200,000 transactions that happened among 150,000 wallet addresses. This record implied that there was impressive network activity during the development.
While the Greenfield Mainnet launch seemed like a step in the right direction for the network, it did little to impact the Binance Coin (BNB) price action. At the time of writing, the coin exchanged hands at $213.
Strength in BNB’s Price Action
Since September, the $205 support level has been instrumental in keeping BNB from dropping below $200. Moreso, bulls have consistently defended this region, and the support was undeniably impactful as BNB flashed green to a 3.18% increase in the last seven days.
Despite the slight gains, the coast was still not yet clear for bulls as BNB’s jump to $214 was met with rejection. Based on the indications from the Relative Strength Index (RSI), BNB could rise higher than it has in the last week.
At press time, the RSI was 52.74. This is a sign of good buying momentum. Should the indicator climb in the direction of 60.00, then BNB may rise as high as $225 soon.
Away from the BNB price action, BNB Chain expanded further on the use cases of the Greenfield Mainnet. In a blog post published on October 17, the blockchain noted that the data storage network plays a part in decentralized hosting and sharing for websites, applications, and AI datasets.
Arnaud Bauer, Senior Solution Architect at BNB Chain also commented on the development. According to Bauer, Greenfield offers much more than regular centralized data storage platforms, saying that, “Distinct from centralized offerings, BNB Greenfield empowers users with control over their data, mitigating the risk of breaches and data loss.”
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