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Binance Chain bypasses Ethereum in the number of Daily Transactions

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Binance Chain

Binance Chain bypasses Ethereum in the number of daily transactions

Binance Chain has surpassed Ethereum in terms of user activity. Binance CEO Changpeng Zhao tweeted about this. He admitted that soon the number of transactions on the network will also be higher than on Ethereum.

Binance Chain

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

On average, the chain network processes 1.607 million transactions per day according to the BSCscan.com service. The number of transactions on the Ethereum network is now about 1.21 million.

Binance chain

What is the reason for the increase in Binance Chain?

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

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

The number of addresses on the chain that make transactions daily reached 1.593 million. The graph below shows that the number of active addresses began to increase rapidly since the beginning of February.

Binance Chain

The BNB rate is also renewing its ATH this month. The price of Binance Coin increased to $ 160.65 on February 18. Altcoin capitalization now exceeds $ 24.825 billion, BNB ranks seventh in the ranking of the largest cryptocurrencies.

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