The growth in daily addresses and transactions on BNB Chain was majorly driven by increased activity from LayerZero.
The number of average daily active addresses on the BNB Chain spiked to 1.4 million in the second quarter of 2023, signaling a 25.6% increase from the figure recorded in Q1.by crypto intelligence firm Messari, the number of daily active addresses almost reached an all-time average of approximately 1.5 million recorded in Q4 2021, during the end of the last bull season.Messari’s researchers found that BNB Chain’s average new unique addresses increased by 91.
Besides LayerZero, notable transaction activity was recorded on PancakeSwap, Hooked Protocol, and CyberConnect.daily transactions increased, the average daily transaction fee plunged by 25.5%. This resulted from BSC validators voting to slash gas fees by 40% from 5 to 3 gwei to remain competitive with other low-cost protocols. The gas fee cut also affected BNB Chain’s revenue, which decreased by 6.1%.
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