The network of Binance, a prominent cryptocurrency exchange, specifically the BNB protocol, has seen a surge in activity and popularity within the cryptocurrency space. While other protocols have been gaining market share in recent months, the BNB network has experienced a notable increase in DEX volumes, surpassing even Ethereum in this aspect.

This rise in DEX volume on the BNB network could attract more users to the Binance Chain ecosystem, leading to a network effect that enhances its value and appeal to additional users. As a result, the Total Value Locked (TVL) on the BNB network is also expected to rise.

Recent data from Artemis shows a significant growth in the TVL of the BNB network, reaching around $6 billion. BNB is primarily used for transactions on its network, and the spike in DEX volumes could drive more transaction activity, thereby increasing the demand for BNB to cover gas fees. These developments are likely to positively impact the price of BNB.

Currently, BNB is trading at $594.86, indicating a 2.67% increase in the last 24 hours. The price of BNB has been fluctuating within a range, with potential to retest its ATH of $690.93. However, the CMF suggests minimal buying pressure for BNB at present.

Overall, the BNB network is gaining momentum with rising DEX volumes, signaling a positive trend for the protocol's future growth.