BNB Chain’s DeFi Ecosystem Expands by 58% in 2024

In 2024, the TVL of the BNB Chain ecosystem surged by 58.2% to $5.5 billion, while the number of unique addresses increased by 17.7% to 486 million, according to data released by the development team.

Key achievements include:

• network consolidation through the merger of BNB Beacon Chain, BNB Smart Chain, and BNB Greenfield;
• enhancements in opBNB and BNB Greenfield;
• the creation of a platform for AI-driven applications;
• the Gas-Free Carnival initiative with stablecoins.

The latter eliminated gas fees for depositing or withdrawing USDT, FDUSD, and USDC on BNB Chain and opBNB.

Developers noted a 67% reduction in damages from cybersecurity incidents, down to $53 million, and a 66% decrease in their frequency.

The average daily number of active users on opBNB reached 4.7 million, while BNB Chain averaged 1.12 million.

The number of transactions processed daily increased to 4 million on BNB Chain and 7.1 million on opBNB.

The average fee in the first case was $0.03, and in the second, $0.001.

Developers claim that opBNB supports a gas limit of 100 million per second, delivering performance up to 4600 TPS, surpassing most Ethereum L2 solutions.

The team launched the Meme Innovation Battle initiative with a $1 million budget to foster meme culture development.

Back in December 4, BNB’s price reached a ATH of $782.79 after DEX PancakeSwap introduced Springboard, a platform for launching meme coins on BNB Chain.

In September, the blockchain team opened a gateway with the Telegram messenger to ensure seamless Web3 access for users and developers.