Despite a drop in BNB Chain’s active addresses and transactions, $BNB still outperformed $ETH and $SOL.
Losses All Around
Following the highs that the major layer-one (L1) smart contract platforms — Ethereum, BNB Chain, and Solana — enjoyed in 2021, this year so far has been marked with significant declines in growth metrics for these L1 platforms and their respective native tokens.
Amongst the three leading platforms, since reaching their respective all-time highs (ATHs) last November, BNB Chain has suffered the most decline in the number of transactions processed on the network.
Data show that the user transactions on BNB chain have fallen by 58.2% from the day of its ATH, while the transactions processed on the Solana and Ethereum Networks are down 18.1% and 13.7%, respectively.
Further, a look at the index for daily active addresses on each chain since the day of their respective ATHs revealed a disappointing performance on BNB Chain. While Ethereum saw a 27.2% decline and Solana saw a 20.4% decline, BNB Chain recorded a 68.8% decline within the same period.
BNB’s Silver Lining
Despite its declining on-chain performance, since all three tokens touched their ATHs, the BNB token has outperformed the ETH token, which dropped by 77.1% as of July 11, and the SOL token, which registered an 87% decline. The BNB token “only” experienced a 65.5% decline over the same period.
Factoring in the recent rally after ETH’s confirmation of a September date for The Merge, $BNB is still outperforming $ETH and $SOL, with $BNB down 60% since its November 2021 high, compared to 68% for $ETH and 82% for SOL.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
