Get the scoop on finance - sign up for mobile alerts
Altcoins
| On
August 4, 2022

BNB Chain Outran Other Ethereum Competitors in Several Metrics During Q2: Insights Firm Messari

By Daily Hodl Staff

Binance’s BNB Chain (BNB) outperformed other Ethereum (ETH) competitors in the second quarter of 2022, according to crypto insights firm Messari.

In a new analysis, Messari notes the BNB Chain has had a “breakout year” in terms of its non-fungible tokens (NFT) sector with the chain witnessing exponential growth in its NFT secondary sales volume and number of unique NFT buyers.

ADVERTISEMENT
Source: Messari

The crypto insights firm reports that BNB Chain also managed to chip away a little at Ethereum’s NFT sales volume dominance by the end of Q2.

Source: Messari

While the BNB Chain declined across most financial and network usage metrics in the second quarter due to macroeconomic conditions and the collapse of Terra (LUNC), it managed to outperform its competitors.

For example, the BNB Chain reached greater levels of daily transactions compared to its top competitors, according to Messari.

Source: Messari

Explains the insights firm,

ADVERTISEMENT

“Compared to the peer group, BNB Chain outperformed across several financial, network, ecosystem, and development metrics over the quarter… There was a noticeable spike in transaction count and revenue across each chain during the middle of May. The magnitude, however, appears to have been much more significant on BNB Chain. More transactions create more fees on BNB, boosting several key metrics.”

Messari says the BNB Chain’s new use cases could ensure its place as an alternative to Ethereum.

“With its evolving architecture and deployment of zk-rollups and sidechains, BNB Chain is positioned to provide additional value propositions to its large user base. If BNB Chain can successfully roll out its plans, the network could maintain its place in the Layer-1 race as one of the most valuable networks in the marketplace.”

The BNB Chain’s native token, BNB, is trading at $301.43 at time of writing. The 5th-ranked crypto asset by market cap is up more than 4% in the past 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Bruce Rolff

ADVERTISEMENT