On May 22, the 7 DMA of transaction counts on the BNB Chain blockchain reached its highest level since May 2022, at 4.8 million. The Block reports this data: The Block.
By this metric, BNB Chain outpaces otherEVM-based networks.
Senior blockchain solutions architect Arno Bauer explained the trend by low fees, high throughput, the number of TPS, and the growing popularity of DeFi and gaming projects.
“Activities such as NFT issuance, token transfers and airdrops have become more attractive thanks to the economically favorable transaction fee on the BNB Chain,” — explained the expert.
Bauer predicted the trend would continue thanks to additional capabilities for both projects and end users.
“On the one hand, teams can use a high-performance environment to build robust platforms. On the other hand, users receive stronger incentives to engage in communities due to lower transactional costs,” — explained the expert.
According to DeFi Llama, the DeFi ecosystem on BNB Chain hosts 601 dapps (only Ethereum has more — 791). TVL stands at $4.6 billion. By this metric, the network ranks third with a 9.68% share.
BNB ranks fourth in cryptocurrency market capitalization (US$49.5 billion) in CoinGecko‘s ranking.
In April, the developers of BNB Chain presented a report on issued updates and outlined near-term plans to improve the network.