{"id":548311,"date":"2023-02-06T08:19:03","date_gmt":"2023-02-06T05:19:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bnb-chain-on-chain-activity-bucks-bear-market-downtrend-in-q4-messari\/"},"modified":"2023-02-06T08:19:03","modified_gmt":"2023-02-06T05:19:03","slug":"bnb-chain-on-chain-activity-bucks-bear-market-downtrend-in-q4-messari","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bnb-chain-on-chain-activity-bucks-bear-market-downtrend-in-q4-messari\/","title":{"rendered":"# BNB Chain on-chain activity bucks bear market downtrend in Q4: Messari"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a410d425a18f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a410d425a18f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bnb-chain-on-chain-activity-bucks-bear-market-downtrend-in-q4-messari\/#%E2%80%9D_BNB_Chain_on-chain_activity_bucks_bear_market_downtrend_in_Q4_Messari_%E2%80%9C\" >&#8221; BNB Chain on-chain activity bucks bear market downtrend in Q4: Messari &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BNB_Chain_on-chain_activity_bucks_bear_market_downtrend_in_Q4_Messari_%E2%80%9C\"><\/span>&#8221; BNB Chain on-chain activity bucks bear market downtrend in Q4: Messari &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>The Binance-native blockchain BNB Chain has continued to show steady activity growth in the fourth quarter of 2022 despite the broader crypto bear market according to recent research.<\/p>\n<p>In a \u201cState of BNB Chain Q4 2022\u201d\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/messari.io\/report\/state-of-bnb-chain-q4-2022\">report<\/a> published on Feb. 5, Messari researcher James Trautman revealed that the Binance network had continued with an \u201caggressive strategy to deploy financial and human capital across its ecosystem.\u201d<\/p>\n<p>Due to these ongoing updates and developments, average daily active addresses and transactions \u201cbucked a downward trend and grew by 30% and 0.2%, respectively,\u201d the researcher noted.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/4a041d36-e3a2-481d-b429-c280ed9a4f4c.jpg\"><figcaption style=\"text-align: center;\"><em>BNB Chain daily active addresses &#8211; Messari<\/em><\/figcaption><\/figure>\n<p>Bear markets are usually quiet periods in terms of on-chain activity, however, teams use this time to continue building and developing their products. <\/p>\n<p>\u201c2022 was a tumultuous year for the crypto industry [&#8230;] Despite the market volatility, BNB Chain lived up to its Build N\u2019 Build name with network upgrades and ecosystem expansion that showed considerable strength through Q4,\u201d explaine Trautman. <\/p>\n<p>BscScan<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bscscan.com\/chart\/tx\"> reports<\/a> that daily transactions on BNB Chain have remained steady at around 3 million since mid-August. However, daily BEP-20 token transfers have seen an uptick in activity this year with a 66% increase to just over 5 million on Feb. 5.<\/p>\n<p>BNB Smart Chain unique addresses are currently at an all-time high of 250 million, according to BscScan. Average daily new unique addresses grew by 41.3% year-on-year.<\/p>\n<p>Messari attributed the growth to the adoption of several ecosystem protocols such as Web3 onboarding protocol Hooked, a surge of DeFi activity on Venus Protocol, and increased NFT activity on the OpenSea marketplace.<\/p>\n<p>Meanwhile, BNB Chain DeFi total value locked has increased by 25% since the beginning of the year to reach $6.62 billion, according to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/BSC\"> DeFiLlama<\/a>.<\/p>\n<p>\u201cBNB Chain executed a growth strategy that facilitated significant strides toward adoption. It made several upgrades to core functionality, integrated with strategic partners, and expanded into DeFi, NFTs, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Fi, and beyond,\u201d said Trautman.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Binance delves into decentralized Web3 storage with BNB Greenfield<\/em><\/strong><\/p>\n<p>However, despite the uptick in user activity, financial performance was down. Average transaction fees decreased, which contributed to less revenue generation, it noted.<\/p>\n<p>Network revenue declined 10% for the quarter but Messari stated that the fundamentals were still positive, concluding that:<\/p>\n<blockquote><p>\u201cUltimately, it was a positive sign that the catalysts for user growth came on the heels of a foundational user base and a more favorable valuation for BNB Chain\u2019s network, especially after the FTX drama unfolded during Q4.\u201d<\/p><\/blockquote>\n<p>Looking ahead, Trautman said he expects BNB Chain to be able to continue its growth, including adding scaling solutions and boosting throughput.<\/p>\n<p>The Binance native token, BNB, has dropped 1.2% over the past 24 hours in a fall to $326, according to Cointelegraph. The token has made 25% over the past month but remains down 52.5% from its May 2021 all-time high of $686.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bnb-chain-on-chain-activity-bucks-bear-market-downtrend-in-q4-messari\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BNB Chain on-chain activity bucks bear market downtrend in Q4: Messari &#8220; The Binance-native blockchain BNB Chain has continued to show steady activity growth in the fourth quarter of 2022 despite the broader crypto bear market according to recent research. In a \u201cState of BNB Chain Q4 2022\u201d\u00a0report published on Feb. 5, Messari researcher&#8230;<\/p>\n","protected":false},"author":1,"featured_media":548312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/bf703039-523c-4a57-a4aa-c108198d135d.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75166,74894,74355],"class_list":["post-548311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-binance-coin","tag-blockchain","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=548311"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/548312"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=548311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=548311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=548311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}