Since the beginning of the year, the BNB Smart Chain has experienced great adoption, with the creation of nearly 91 million new addresses. This is a 38% increase which gives us the opportunity to look at some interesting statistics.
BNB Smart Chain adoption continues
After analyzing the activity of different blockchains lately such as Sui, Polygon (MATIC) or Arbitrum (ARB), today is the turn of the BNB Smart Chain (BSC).
Since the beginning of the year, the BSC has continued to grow, notably symbolized by an increase of more than 38% in the number of addresses between last January 1 and today.
The network now has nearly 328 million, making it the most adopted blockchain by this metric alone:
Figure 1 — Number of unique addresses on the BSC
In terms of daily active users, we are currently around 1.5 million addresses. As a guide, the all-time high (ATH) was just over 2.27 million on December 1, 2021, and the low since that date was 710,061 on August 28, 2022.
Regarding the number of daily transactions, the BSC seems close to crossing the threshold of 5 million. This level was broken about a year ago now, and the network has since moved below it despite a few attempts to break it:
Figure 2 — Number of daily transactions on the BSC
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On the financial data side
Depending on the data we take into consideration, the BSC is the second blockchain in number of decentralized applications, i.e. 597 protocols according to DefiLlama, or the third blockchain in terms of total value locked (TVL).
This TVL is $4.65 billionbehind Tron (TRX) with 5.45 billion and Ethereum (ETH) with $27.07 billion.
Since June 2022, we can see that it is actually dead calm, with relatively little volatility there.
Figure 3 — BNB Smart Chain TVL
As the chart above shows, the ATH was hit 2 years ago now, namely May 5, 2021 for $21.93 billion.
Beyond the fact that it was a period of bull run, it was also a time when the ecosystem was bearing the full brunt of soaring transaction fees on Ethereum. This phenomenon had benefited a number of other networks which essentially focused their communication on the competitiveness of their costs.
For decentralized finance (DeFi) protocols, 2 applications largely dominate, with $2.05 billion and $815 million respectively: the decentralized exchange PancakeSwap and the lending and borrowing protocol Venus.
As we can see, Uniswap (UNI), recently deployed on the BNB Smart Chain, does not appear in the top 10 belowand will only come in at #29 with $18.32 million from TVL:
Figure 4 — Top 10 largest DeFi apps from BSC
On the side of BNB, the native token of this ecosystem, it is trading around 310 dollars when writing these lines, in 4th place among the largest capitalizations cryptocurrencies for $48.9 billion.
? Also in the news — Ledger presents its new service to recover access to its wallet without seed phrase
Sources: BscScan, DefiLlama
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