BNB Chain extends dominant streak as Binance exchange and Trust wallet lead in CEX, DEX activity

There are rumors that it is officially BNB season, and network activity on DEXs and CEXs has been going crazy. According to reports, Binance exchange has emerged the leading CEX by download, beating apps like OKX, Bitget, Coinbase, and Bybit. 

According to an X post by @crypto_rand, Binance has almost 60 million monthly visits, supports more than 400 coins and saw about 4.83 million downloads in February alone. That number is more than double the amount of downloads OKX, which came in second place, had.

As for DEXs, Trust Wallet leads the group in activity and downloads as volume pushes hard. According to an X post from @Axel_bitblaze69 and reposted by Changpeng Zhao (CZ), Trust Wallet beat all other DEXs in the number of wallet downloads it has racked up so far this month.

Trust Wallet reportedly got downloaded about 35% more times than other apps like MetaMask, Phantom, Coinbase and Bitget.

In his X post, Axel highlighted how much Trust Wallet has grown in the past couple of years, claiming that he first downloaded the app in 2021 “for the $BNB memeseason,” and has been using it ever since.

Since then, he noted that the wallet has become one of the most widely used with milestones like 200M+ downloads, 2.5M monthly new users and 35% of captured market share with 100+ chain integrations.

Axel also called attention to the Trust Wallet zero swap fees campaign, which allows zero swaps for all token pairs on the BNB Smart Chain and will be live until March 27. The campaign was reportedly sponsored by OxProject and 1inch.

Building together with the buddy @BNBCHAIN ⚒️ pic.twitter.com/6QMN1cRO3A

— Trust Wallet (@TrustWallet) March 21, 2025

“With BSC flipping Solana in DEX volume lately and Trust Wallet still the OG for most BNB on-chain players, those numbers are only getting bigger from here imo,” he concluded his post.

In the comment section, there were many who agreed that Trust Wallet is a great innovation, with some claiming they had never encountered any issues while using the app. However, there were also those with complaints about the app.

Is it really BNB season?

While the BNB token has been showing some strength, rumors of a BNB season are still just that for now, but the excitement is building.

The coin is definitely showing solid momentum. It owes much of it to the growing meme coin activity on the chain and technical signals that signal short-term bullishness.

Analysts on X have highlighted resistance levels around $640-$665, but if it clears that, they see a potential run to $875.

The BNB Chain recently beat out Solana in weekly DEX volume, and it has contributed to the growing euphoria about a possible BNB season. Binance wallet has also promoted 0% trading fees until September which could encourage more trading activity.

Overall, many analysts are looking forward to a parabolic move from BNB soon, with some even going as far as tagging the token a silent winner as it weathers the current market volatility.

The volatility is one of the threats to the potential BNB season. Bitcoin has not been doing too well and altcoins historically follow its trend so there is skepticism about BNB pumping especially if BTC doesn’t change its downward trajectory.

Even if BNB season does happen, some X users have warned that it may not last long. @fishermancrypt0 in a post cautioned that the “BNB season” might fizzle by the weekend if Solana, known for its memes, steals the spotlight.

BNB got on the Trump train… briefly

Binance’s BNB token has been doing relatively well in the past couple of days. On March 13, the token jumped by 4% after Wall Street Journal reported that the Trump family has been in talks to secure a financial interest in the U.S. arm of Binance, the world’s largest cryptocurrency exchange.

However, CZ quickly denied any discussions about a deal for Binance.US or conversations about seeking a pardon from the president.

“Sorry to disappoint. The WSJ article got the facts wrong,” he wrote. “I have had no discussions of a Binance US deal with… well, anyone.”

4. Sorry to disappoint. The WSJ article got the facts wrong.

More than 20 people have told me they were asked by the WSJ (and another media), "Can you confirm that CZ made some deal for a pardon?"

They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G

— CZ 🔶 BNB (@cz_binance) March 13, 2025

Zhao tagged the WSJ article as part of a broader effort to attack both crypto and the current administration, claiming that “the residual forces of the ‘war on crypto’ from the last administration are still at work.”

According to the WSJ, Binance initially approached Trump allies last year to pitch a deal that could help it regain its footing in the U.S. At the same time, it said its founder, Changpeng Zhao has been working towards getting a presidential pardon after serving four months in prison for violating anti-money laundering laws.

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