Number of Binance Chain daily transactions bypassed Ethereum

by in Blockchain News

Binance

Binance Chain surpassed Ethereum in terms of user activity. The CEO of the Binance exchange Changpeng Zhao wrote about this on Twitter and admitted that soon the number of transactions on the network would also be higher than on Ethereum.

However, he added that he does not oppose ETH. It supports the concept of the successful development of both blockchains.

According to the BSCscan.com service, on average, the Binance Chain network processes 1.607 million transactions per day. The number of Ethereum transactions is now around 1.21 million.

According to analysts, the surge in transaction activity is directly related to the rise in the value of Binance Coin (BNB), the underlying asset of Binance Chain.

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Moreover, at the moments of peak load, commissions in this network are still lower than on Ethereum. That is why there is a migration to Binance Chain of both private BNB holders and entire projects.

The number of unique addresses that transact daily has already reached 1.593 million on Binance Chain. If you look at the graph below, you will notice that the number of active addresses has started to grow rapidly since the beginning of February.

The BNB rate is also renewing highs this month. The coin first broke through the $ 100 mark and continued to climb new heights.

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On Thursday night, February 18, the price of Binance Coin increased to $ 160.65. Altcoin capitalization now exceeds $ 24.825 billion, BNB has secured seventh place in the ranking of the largest cryptocurrencies.