BNB Chain Leads Ethereum in User Activity, DappRadar Data Reveals
Data from blockchain analytics firm DappRadar has shown that BNB Chain [BNB] has surpassed Ethereum [ETH] in terms of user activity over the past month. According to the data, a total of 4.18 million unique active wallets completed at least one transaction on BNB Chain in the last 30 days, marking a significant 29% uptick in user count. In contrast, only 1.28 million active addresses transacted on Ethereum during the same period, witnessing a 13% drop in user activity.
BNB’s User Count Soars 29% in a Month, Ethereum Slips by 13%
The surge in user activity on BNB Chain has resulted in a staggering 29% increase in the number of users over the past month. With a total of 4.18 million active wallets, BNB Chain has clearly outpaced Ethereum in terms of user engagement. In contrast, Ethereum witnessed a 13% decline in user activity, with only 1.28 million active addresses transacting on the platform.
BNB Chain Registers 22 Million Transactions in 30 Days, Ethereum Trails Behind with 3.34 Million
The increased user activity on BNB Chain has translated into a significant number of transactions. In the last 30 days, BNB Chain recorded a total of 22 million transactions, while Ethereum only saw 3.34 million transactions during the same period. This highlights the popularity and demand for BNB Chain and its decentralized applications (dApps) among users.
BNB Chain’s Fees Surge 50% MoM, Revenue Hits $2 Million
The surge in user activity on BNB Chain has also resulted in a substantial increase in network fees. In the last 30 days, BNB Chain received $18.35 million in fees from its users, representing a significant 50% growth in month-over-month (MoM) fees paid by its users. From these fees, BNB Chain generated $2 million in revenue. In comparison, Ethereum’s fees and revenue increased by just 10% over the same period.
BNB’s Rally Continues: Price Up 31% in a Month, Bulls Dominate Market
In addition to the increased user activity and network fees, BNB has also experienced a significant price rally in the last month. At the time of writing, BNB was trading at $305.80, recording a 31% price increase. Despite a 3% price correction in the last week, accumulation has persisted. The coin’s Relative Strength Index (RSI) and Money Flow Index (MFI) are both above their center lines, indicating that buying activity exceeds distribution. Additionally, BNB’s positive directional index (green) is significantly above its negative directional index (red), confirming the strength of the buying trend. The coin’s 50-day simple moving average (blue) is also positioned above its 200-day simple moving average (yellow), indicating an upward trend.
Analyst comment
Positive news. BNB Chain has surpassed Ethereum in terms of user activity, with a 29% increase in the number of users and a surge in transactions. Network fees and revenue have also seen significant growth. BNB’s price has rallied by 31%, indicating a strong buying trend and bullish market conditions.
