Weekly Analysis of Binance Ecosystem (Sept. 23-29)

BNB Chain Key Data Highlights

Here are some key metrics of BNB Chain’s performance between Sept. 23 and 29:

• Weekly Active Users: The count for Weekly Active Users (WAU) on BNB Chain rallied by 2% last week. The network recorded 3.26 million active users, breaking a two-week decline in WAU on the chain.
• Weekly Transactions: Between Sept. 23-29, 20 million transactions were completed on BNB Chain. That represented a 7% decline from the 21.3 million transactions completed the week before.
• Average Daily Transactions: Last week, BNB Chain logged average daily transactions of 2.86 million, a 6% decline from the previous week.
• Average Gas Fee: Transactions on BNB Chain between Sept. 23-29 cost an average gas fee of 0.00073 BNB. In the week before, this was 0.00074 BNB.

Binance Ecosystem Update

Last week, the Binance ecosystem recorded a series of significant developments. These included restarting Crypto Futures in South Africa, creating the Ethereum Proof-of-Work (ETHW) mining pool, launching Spot Block Trading on the Binance website, and announcing the launch of Binance New Zealand.

Crypto Futures

In an announcement on Sept. 26, Binance confirmed that it had relaunched its Futures products for eligible South African users.

According to the blog post, Binance’s USD-Margined and Coin-Margined perpetual and delivery Futures contracts became available to Binance users in South Africa on Sept. 26 through a juristic representative arrangement with FiveWest OTC Desk (Pty) Ltd.

Last October, Binance suspended a series of products and service offerings to its users in South Africa “to comply with local regulations.”

Ethereum Proof-of-Work (ETHW) mining pool

On Sept. 29, Binance announced the launch of the ETHW mining pool, where all pool users within a 30-day period can enjoy zero pool fees for ETHW mining. This promotion is available only to users with verified Binance accounts and users that contribute to the hashrate of the ETHW pool during the promotion period.

Spot Block Trading

To increase the number of existing communication channels for its OTC service, Binance, on Sept. 29, launched Spot Block Trading on the Binance website.

OTC traders who intend to trade nominal amounts of $200,000 and more can now request a live price quote from the Binance OTC trading desk directly on the platform.

New shop in New Zealand

Binance, on Sept. 29, announced the official launch of Binance New Zealand following the exchange’s registration as a Financial Service Provider on Sept. 10 in the country.

BNB Coin Price Performance

According to CoinMarketCap, $BNB exchanged hands at $286.02 as of writing. The price per BNB coin rallied by 5% in the past week.