BNB Chain, developed by Binance, is a blockchain platform known for its low transaction fees, high throughput, and compatibility with Ethereum, making it a preferred network for stablecoin transactions like USDT. USDT, the world’s largest stablecoin pegged to the U.S. dollar, is widely used for trading and as a store of value. Recent articles from BitcoinEthereumNews, CoinGecko, CoinMarketCap, Coinbase, and others, dated April 21, 2025, and earlier, confirm BNB Chain’s popularity and BNB’s price movements, forming the basis for this analysis. This aligns with the broader trend of stablecoin adoption and Binance’s ecosystem growth, amid a volatile market influenced by U.S. tariff measures and global economic conditions.
BNB Chain’s Dominance for USDT Users
Research suggests BNB Chain has become the top choice for USDT users, with the following evidence:
- A report from BitcoinEthereumNews dated April 21, 2025, states that BNB Chain led with nearly 12 million active addresses for USDT transactions in the past month, more than any other network (BitcoinEthereumNews). This surpasses TRON (11.2 million), Polygon (2.6 million), and Ethereum (1.8 million), highlighting its appeal for stablecoin transfers.
- The article notes BNB Chain’s advantages, including fast transactions (2,000 per second throughput), low fees, and ease of use, exactly what users want for USDT, per NOWPayments. This aligns with earlier data from 2023, where BNB Chain emerged as the most popular EVM-like chain for USDT, with 2.5 million active users in January 2023, per Okhlopkov.
- BNB Chain’s compatibility with Ethereum, via bridges, enhances its attractiveness, though users must use special bridges for ETH version USDT, per NOWPayments, ensuring seamless integration.
This evidence leans toward BNB Chain’s dominance, driven by its ecosystem’s scalability and cost-effectiveness, but the exact number of active addresses may vary by measurement period, adding some complexity.
BNB Price Hits $600
The evidence leans toward BNB’s price hitting around $600, with recent data showing:
- CoinGecko reports a current price of $592.34, with a 24-hour trading volume of $339.63 million, up 2.07% in the last 24 hours (CoinGecko).
- CoinMarketCap shows $589.95, with a 24-hour volume of $1,303,865,302, down 0.16% in the last 24 hours (CoinMarketCap).
- Coinbase indicates $592.75, with a 24-hour volume of $1.26 billion, up 0.22% in the past 24 hours (Coinbase).
- Yahoo Finance lists $592.47, up 0.09% over 24 hours, with a market cap of $83.31 billion (Yahoo Finance).
- Bitget shows $592.34, with a market cap of $86.39 billion, up 2.07% in 24 hours (Bitget).
Given these figures, BNB’s price is around $590 to $593, close to the claimed $600, with slight variations due to exchange differences and timing. The BitcoinEthereumNews article mentions BNB hitting $600, likely referring to recent highs within the range, supported by market activity and Binance’s ecosystem growth, including its 31st token burn, per the article.
Supporting Factors and Market
Several factors support BNB Chain’s rise and BNB’s price:
- Ecosystem Growth: BNB Chain’s completion of its 31st token burn, reducing supply, supports BNB’s value, per BitcoinEthereumNews. This aligns with Binance’s strategy to enhance BNB’s utility, including fee discounts and staking, per BNB Chain Blog.
- USDT Adoption: BNB Chain’s popularity for USDT, with high active addresses, reflects its role as a scalable platform, per NOWPayments and Okhlopkov, driving demand for BNB tokens as users engage with the ecosystem.
- Crypto Market Uncertainty: Despite U.S. tariff measures, BNB Chain’s performance and BNB’s price rally demonstrate resilience, partly due to Binance’s strategic initiatives and pro-crypto policies under President Trump, per Reuters.
However, challenges include market volatility, with recent liquidations and price swings, per BlockchainReporter, highlighting risks for investors.
Controversies and Analyst Perspectives
There is some controversy around BNB’s rise and the claim:
- Optimists: Supporters, implied in BitcoinEthereumNews, see BNB Chain’s dominance and price surge as driven by ecosystem growth and user adoption, viewing it as a sign of confidence amid uncertainty. They highlight Binance’s leadership in crypto, per CoinMarketCap.
- Skeptics: Critics, inferred from exchange variations and volatility, argue that BNB’s price hitting $600 may be overstated, with actual prices around $590, per CoinGecko and Coinbase. They note risks from market swings and regulatory scrutiny, adding complexity.
This debate underscores the complexity, with the evidence leaning toward the claims, but acknowledging market risks.