BNB, the native token of the BNB Chain and widely used for transaction fee discounts on Binance, jumped more than 5% over the last 24-hour period, crossing the $1,280 mark to hit a new all-time high.

The rally comes as traders digested signs of increased demand from institutions and surging activity on the underlying blockchain, driven in part by the newly launched decentralized exchange Aster.

BNB Chain reported a record 58 million monthly active addresses, overtaking Solana’s 38,3 million according to data from TokenTerminal. The growth reflects rising usage that’s closely linked to Aster, which saw its total value locked jump over 500% to $2.4 billion, according to DeFiLlama.

The price move also coincides with the announcement of a partnership between BNB Chain and Chainlink to bring

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