Are the gas fees decreasing on the BNB Chain? Is September’s data showing the first signs of a bullish reversal? Learn more in this report.
AnalytEx on the BNB Chain in September
AnalytEx reports that September was marked by ups and downs for BNB Chain. While the network registered an increase in average daily transactions, the number of issued blocks, and the average number of unique active wallets per day were lower compared to August. In addition, it saw a decrease in its gas fees.
BNB Chain gas prices decreased by 2.1% in September
The average gas price on the BNB Chain in September was 7.06 Gwei. In August, it was 7.21 Gwei, a decrease of 2.1%. During this period, there were no significant peaks in the average gas price per day as the Gwei ranged steadily between 6.54 to 7.54.
Due to the bear market sentiment, fewer transactions are made compared to bullish periods. Since the BNB Chain is less congested during periods of low activity, transaction costs for its users are able to remain low.
The transactions and the issued blocks per day increased
Average number of daily transactions completed in September was 3.25 million. Compared to August, the index represented a 1.2% increase. Since April, average daily transactions on BNB Chain have fallen by 50%.
Average daily transactions on BNB Chain are 2.9 million, continuing the steady decline from the high recorded in May and a 50.04% decline from one year ago.
BNB Chain saw a 1.39% increase in its average number of blocks created per day. In September, an average of 28,586 blocks were created daily.
The number of unique active addresses increased
BNB Chain saw an increase in its unique active crypto wallets. Daily active wallets in September stood at 890,253, which is 11.48% more than the 798,559 registered in August.
Summing up the data for September
As gas price has decreased by 24% in the last two months, investors can trade with lower fees. A slight increase in average daily transactions and unique active addresses in September might showcase the first signs of a reversal towards more bullish periods.
Source : bsc.news
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