币界网报道：Cracks are showing beneath the surface of Binance [BNB]. Smart contract activity on BNB has fallen to a one-year low. The latest data shows that the network is unhealthily dependent on the DeFi and DEX sectors, both of which are currently shrinking sharply. In contrast, other ecosystems are expanding into games, NFTs, and broader developer innovation. BNB's limited diversification may expose it to greater long-term risks. Over-dependence leaves BNB Chain exposed BNB Chain's latest cohort data shows a worrying collapse in the number of active smart contracts to a one-year low. Looking more closely at the breakdown, almost all on-chain activity is concentrated in the DeFi/DEX sector, while other verticals such as NFTs, foundation-backed projects, and games have barely gained any traction. The network's recent decline is a direct reflection of the decline in DeFi activity. This lack of diversity now poses a serious systemic risk. With no meaningful growth in other sectors to offset this decline, BNB Chain faces dangerous volatility in one sector, making it highly sensitive to downturns, migrations, or confidence shocks. Open interest remains constant, but development disappears While futures open interest remains stable, on-chain developer activity on BNB has plummeted by more than 85% over the past month. This highlights a stark gap between speculative interest and actual builder participation. While traders appear to be staying put, developers are leaving. With development activity now near year-to-date lows, there is a clear disconnect between market sentiment and the underlying health of the network. Without new developer participation, the long-term sustainability of the BNB ecosystem could be at risk, regardless of what futures data means in the near term. Momentum Stalls, Indicators Flash Neutral — But Is This Part of the Problem? Technical signals on the daily chart of BNB show indecision. At press time, the RSI is hovering around 51, showing neither strength nor weakness. The MACD line is flat, barely entering positive territory, indicating a lack of meaningful momentum. Meanwhile, OBV remains at around 574 million, showing no clear accumulation or distribution. This neutrality is a sign that the market is in a wait-and-see mode, with prices remaining stable but lacking confidence. As fundamentals deteriorate and developer activity collapses, the muted signals from traders suggest that the ecosystem’s deeper problem isn’t panic, but apathy.