Binance BNB Chain (BNB) is another Ethereum (ethereum) competitors in the second quarter of 2022, according to cryptocurrency insights provider Messari.
new analysisMessari noted that the BNB chain has had a “breakout year” with regards to the non-fungible token (NFT) sector, with the chain seeing exponential growth in secondary NFT sales volume and the number of unique NFT buyers. I am witnessing.
The crypto-insights firm reports that the BNB chain was also able to shave a bit of Ethereum’s NFT sales volume advantage by the end of Q2.
BNB Chain was able to outperform its competitors, despite declines in most financial and network usage indicators in Q2 due to the macroeconomic conditions and the collapse of Terra (LUNC).
For example, according to Messari, the BNB chain has reached higher levels of daily transactions compared to its top competitors.
Describe Insight Company,
“Compared to its peer group, the BNB chain has performed well across several financial, network, ecosystem and development metrics throughout the quarter…In mid-May, each chain saw an increase in transaction volume and revenue. There was a noticeable spike, although it appears to have been much larger on the BNB chain, with more transactions generating more fees on BNB and improving several key metrics. ”
Messari said new use cases for the BNB chain could secure its place as an alternative to Ethereum.
“With its evolving architecture and the deployment of zk rollup and sidechains, BNB Chain is well positioned to offer an additional value proposition to its large user base. We can maintain our position in the Layer 1 race as one of the most valuable networks in the world.”
BNB, the native token of the BNB chain, is trading at $301.43 at the time of writing. The fifth-largest crypto asset by market capitalization is up more than 4% in the last 24 hours.
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