BNB Chain has seen a sharp increase in the number of transactions and reached its highest level since May 2022.
The average number of transactions on BNB Chain hit 4.8 million on May 22, the highest level since May 2022, according to The Block data.
According to Arnaud Bauer, senior blockchain solutions architect at BNB Chain, the rise of BNB Chain can be attributed to a number of factors.
Arnaud Bauer said that the blockchain’s low transaction fees, high throughput or number of transactions per second, and the adoption of DeFi and gaming projects have helped BNB Chain achieve high transaction counts.
“Activities like NFT minting, token transfers and claims have become more attractive thanks to the cost-effective transaction fees of BNB Chain,” said Arnaud Bauer.
Bauer expects this trend to continue as BNB Chain offers the option to both projects and end users. “On the one hand, projects can take advantage of the high throughput environment to build powerful platforms, and on the other hand, users are incentivized to participate more in their communities due to lower transaction costs. “
“However, it is imperative that the BNB Chain developer community continuously monitor and adapt to evolving needs to ensure the long-term growth and success of the entire BNB ecosystem,” concludes Arnaud Bauer.
BNB is currently the fourth largest project in the world with a market capitalization of nearly $50 billion, according to CoinGecko data . The price of BNB is currently trading at around $314, up 1.1% over the past 24 hours.