Binance Coin (BNB) breached a downward line on July 26, confirming a possible trend shift. While publishing this content, BNB controlled 7.5% ($6.86B) of the overall market’s total value locked. DeFiLlama data shows BNB Chain’s TVL gained 14% within the past 30 days. However, you may wonder about the platform’s progress following the events.
BNB Chain’s Report Card
The Binance Chain recorded a continued surge in some sectors and declines in others in 2022 Q1. However, investor curiosity heightened as Messari published BNB Chain’s state report for 2022 Q2.
Meanwhile, the bear market wasn’t a hindrance to BNB Chain’s implementation of ecosystem expansion strategies and core architectural solutions. Various indicators confirmed improvements for the network.
The second quarter saw DAA (Daily Active Addresses) steadies at 1 million daily average in June. Meanwhile, that address activity was about 2X last year’s numbers. Moreover, 24hr unique addresses remained the outstanding indicators for Q2.
The quarter saw average daily addresses joining the platform increasing by 6.6%. Surprisingly, the overall quarterly surge emerged amid an activity surge between May 11 and May 14 (during the Binance Bridge 2.0 launch.
Besides that, BNB Chain had its daily transactions stabilizing at nearly 4 Million per day in June, regardless of Q2’s downside trends. That matched figures of one year ago. Meanwhile, the scale of individual addresses plus transaction activity in May exceeded what other networks saw by a large margin.
Furthermore, BNB Chain saw increased user activity in mid-May compared to leading EVM chains. These metrics confirmed surging interest in the network. Meanwhile, some substantial updates have instilled certainty within fans.
What to Consider
Binance revealed the issue of BAB (Binance Account Bound), the first SBT (Soulbound Token) created on Binance’s mobile application. Having stated that, some vital milestones took a hit. BNB Chain’s TVL declined by around 55% quarter-over-quarter in USD terms, regardless of the progressing investment programs.
That saw BNB tokens locked in decentralized finance decreasing. While publishing this content, BNB changed hands around the $288 level, following slight movements within the past 24 hours.
What are your opinions about the above content? You can leave a reply in the section below.
Editorial credit: K.unshu / shutterstock.com
Tokenhell.com produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: email@example.com. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.