BNB chain posted impressive on-chain performance over the first half of 2025. The chain even surpassed prior records in decentralized exchange (DEX) trading volume and revenue generation. Its Maxwell Hard Fork and recent network upgrades also greatly increased performance and scalability. 

But, in spite of having solid fundamentals, BNB is currently trading 16.5% below its all-time high (ATH). This is majorly contributed by the cautious sentiment amongst investors, external factors and the growing competition. Still, the disparity in the chain performance and the price stagnation is a major point of concern for investors. 

BNB Chain Hit Record Performance in June 2025

This year, BNB Chain has emerged to be one of the top-performing Layer-1 blockchains. According to an analysis by CryptoOnChain, data shows that in June 2025, the network recorded the highest monthly revenues since 2021. The network has recorded two peaks this year; one around January and the other on June 29, 2025.

According to analysts, this increase in total revenue can be attributed to the rising user activity, introduction of new decentralized applications (dApps) and low-fees. These aspects have been drawing new users, developers and traders, to the network. 

“This {BNB chain’s] growth likely reflects more users, new projects, and increased activity across the network,” Satoshi Club wrote on X. 

Additionally, despite having zero or low transaction fees, BNB Chain ranked fifth in terms of fees collected across all Layer-1 and 2 networks. This paradox may be attributed to its enormous transaction volume. According to a recent post on X by user TCC, the high throughput helps the BNB chain to compensate for low fees hence improving its revenue massively. 

As per DefiLlama, BNB Chains’ monthly DEX trading volume has reached a new all-time high of $170 billion in June. This contributes to the chain’s excellence in decentralized finance (DeFi).

The increase in the trading volume is evidence of a healthy and strong ecosystem comprising liquidity providers, traders, and new projects. Surging network activity has allowed the BNB chain to sustain impressive competitive advantages over other competitors like Ethereum and Solana. 

BNB Price Down 16.5% From its Peak Despite Strong Fundamentals

Despite impressive network-level performance, the BNB token is still 16.5% off its all-time high, as per CoinGecko. The price of the token currently sits at $658.96 down from its peak sitting at $788.84 recorded on Dec 4, 2024.  Based on this price performance, BNB is yet to capture the full bullish momentum in the network signifying a discrepancy between the on-chain dynamics and the token’s price.

A number of factors may be causing the disparity in BNB chain’s performance and BNB token price. Specifically, the players in the market are remaining nervous after recent streaks of down trends on the market and effects of indecision on the global economy. The persistence of geopolitical and tariff tensions also has damaged the capital flow into risky investment products like crypto. Meanwhile, Ethereum L2 networks like Arbitrum and Optimism could be attracting away the spotlight and investment out of BNB.

However, BNB token’s price situation may change in case the macroeconomic situation becomes more favorable. Sustained growth in transaction number, developer activity, and network’s processing advantages can potentially stimulate a demand for BNB in the future. 

Already, some institutional actors have shown interest in the BNB token. Such interest could create the kind of push for the token to break out. However, with the BNB Chain growing constantly, adding to its ecosystem and enhancing its infrastructure, the native token might soon keep up with its on-chain success.