Weekly Analysis of Binance Ecosystem (Aug. 5 - 11)

BNB Chain Key Data Highlights

Here are some key metrics of BNB Chain’s performance between August 5 and 11:

• Weekly Active Users: In the week under review, Weekly Active Users (WAU) on BNB Chain dropped by 4% from 2.97 million active users to 2.86 million active users.
• Weekly Transactions: Between August 5 and 11, a total of 22.6 million transactions were completed on BNB Chain. This represented a 2% decline from the 23.1 million recorded in transactions the week before.
• Average Daily Transactions: Between August 5 and 11, BNB Chain recorded 3.23 million average daily transactions. Average daily transactions on the network declined by 3% from the 3.31 million registered in the week before.
• ‍Average Gas Fee: For all transactions executed on BNB Chain between August 5 and 11, the average gas fee was pegged at 0.00079 BNB. That was unchanged from the previous week.

BNB Chain and Binance Ecosystem Update

BNB Chain and the Binance ecosystem saw many significant developments between August 5 and 11. These include adding the SOL coin to Locked Savings, introducing Zero Maker Fees for Sri Lankan Rupee (LKR) market, announcing support for the upcoming Ethereum Merge, launching the Binance Token Pop Game, and more. 

SOL to Locked Savings

Following the addition of $ETC, $ETH, $LDO and $OP tokens to its list of supported assets on Locked Savings, Binance announced on Aug. 8 the addition of SOL, another major cryptocurrency.

Zero Maker Fees for LKR Market

Binance P2P, on Aug. 9, announced the implementation of a zero-maker fee structure for every successful trade made by makers who post new advertisements traded with the Sri Lankan rupee (LKR). 

Support for ‘The Merge’

With the transition of Ethereum network into a Proof Of Stake consensus mechanism just a few weeks away, Binance announced on Aug. 10 its support for the upcoming Merge. Furthermore, in case new tokens are forked, Binance added that it “will evaluate the support for distribution and withdrawal of the forked tokens.”

Binance Token Pop Game

On Aug. 11, Binance launched its Token Pop Game, where gamers can play for rewards of up to 1,000 BUSD.

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Price Performance

According to data from Santiment, the price of $BNB rallied by 2.5% from Aug. 5 and 11 and its market capitalization rose from $50.85 billion to $52.24 billion. However, trading activity on the network declined by 4%.

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