BNB Chain Surpasses Solana in Daily Fee Generation, Driven by DEX Activity and Memecoin Surge
BNB Chain Leads in Daily Fee Generation
BNB Chain, associated with Binance, has surpassed Solana and Ethereum in daily fee generation, reaching over $5.8 million on February 13. This marks the first time since October 31, 2024, that a blockchain outside of Ethereum or Solana has led in this metric.
PancakeSwap Fuels BNB Chain's Growth
PancakeSwap, a leading DEX on BNB Chain, contributed significantly to this surge, recording the highest trading volume among decentralized exchanges. The platform's activity highlights BNB Chain's growing dominance in the DeFi space.
Rise in Active Addresses
BNB Chain has seen an increase in daily active addresses, surpassing Tron and Ethereum to secure the second spot. However, it still trails Solana, which leads with 35.8 million active addresses in the past week.
Memecoins Drive Speculative Trading
The surge in activity is partly attributed to the speculative trading of memecoins, such as the "Test" (TST) token. Despite their volatile nature, memecoins have become a popular use case in crypto, gaining attention from notable figures like Donald Trump.
BNB Token Gains Momentum
The native BNB token has risen by 15% over the past week, reaching $666.73. This growth has propelled BNB to become the fifth-largest cryptocurrency by market capitalization, overtaking Solana's SOL token.
Conclusion
BNB Chain's recent success underscores its growing influence in the blockchain ecosystem, supported by strong DEX activity and the memecoin phenomenon. As the chain continues to expand its ecosystem, its position in the crypto market is set to strengthen further.
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