October 3, 2022


Binance-backed BNB Chain Network is outperforming other alternative smart contract platforms, according to the latest report from Messari.

according to ReportBNB appears to have benefited from the drop in the crypto market during the quarter, describing it as a “single quarter” for the blockchain network.

NFT نمو growth

Despite the volatile nature of the bear market, BNB Chain has seen stable network usage and financial performance, especially in NFTs.

BNB Chain’s NFT market volume reached new heights in the second quarter.

The number of unique NFT buyers increased 716% while secondary sales volume increased 634% during the second quarter.

This puts NFT’s network activity on par with that of competing networks such as Solana and Flow.

GameFi bloomed

The GameFi segment of BNB Chain continued to grow as developers introduced more GameFi applications such as X World Games and Era7: Game of Truth.

In the second quarter of the year, the top three GameFi platforms on the BNB chain saw quarterly increases of 35% in daily users to 60,000 users and generated $14 million in revenue.

DeFi

Meanwhile, DeFi lagged in the second quarter. The total value of the locked-in assets in the chain decreased by 55% from $14 million to $6 million.

Notably, the network’s main DeFi platform, Pancakeswap, which owns about 50% of TVL, fell at the same rate as the entire sector.

In addition, the total number of smart contracts published in the second quarter grew by 31.7%, but the number of unique contract publishers decreased by 23.9%.

But this was not enough to dampen overall positive performance during this period. “Ultimately, DeFi, NFTs, GameFi, and to some extent the collapse of Terra collectively bring more unique users into the BNB Chain ecosystem,” the report stated.

Overall, BNB Chain performed better on major metrics than others in the top 5 EVM-compliant chains including Ethereum, Avalanche, Fantom, and Polygon.

It had the lowest decline in market capitalization, decline in revenue on a quarterly basis, more daily transaction volume at 4 million compared to Ethereum at 1.17 million, and an increase in secondary NFT sales despite Ethereum NFTs dominating the sector.

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