Weekly Analysis of Binance Ecosystem (July 8 – 14)

A look into BNB Chain performance and Binance ecosystem updates from July 8-14.

BNB Chain Key Data Highlights

Here are some key metrics of BNB Chain’s performance between July 8 and 14:

Weekly Active Users: From July 8-14, the index for Weekly Active Users (WAU) on the BNB network logged a 1.33% decline from the 3.01 million recorded the week before. WAU on BNB Chain stood at 2.97 million in the period under review.

Weekly Transactions: At 25.8 million, the index for weekly transactions on the BNB Chain recorded a 5.31% growth from the 24.5 million registered the week before.

Average Daily Transactions: With a 6.02% growth from the week before, average daily transactions on the BNB chain stood at 3.70 million.

Average Gas Fee: For all transactions executed on the BNB chain, the average gas fee was pegged at 0.00076 BNB, a 2.56% decline from the 0.00078 recorded the week before.

BNB Chain and Binance Ecosystem Update

Many developments occurred in the Binance ecosystem and on BNB Chain during the period under review, including the launch of the “Alan Walker Origins” NFT Collection, the completion of the 20th Quarterly BNB Burn, the launch of DappBay, and more.

The “Alan Walker Origins” NFT Collection

On July 13, Binance NFT Marketplace launched the “Alan Walker Origins” NFT collection. The NFT collection features three music videos from Alan Walker’s “Origins” album. In addition, holding the NFT collection gives holders access to special gamification where they can participate in an online “Alan Walker Origins” NFT scavenger hunt. 

20th Quarterly BNB Burn

On July 13, the BNB chain completed its 20th quarterly burn. With the burn, 1,959,595.29 BNB tokens worth $444,632,106 were removed from circulation.

DappBay

The BNB chain announced the launch of “DappBay” on July 13. According to the blog post, DappBay is a dApp hub on the BNB Chain ecosystem that offers users the necessary tools to navigate the space more safely. It also features a “Red Alarm” tool built to help users identify potential high-risk projects on the BNB Chain. 

Price Performance

Per data from Santiment, the price of the BNB coin registered a 1% decline from July 8-14. On July 8, the price per BNB coin was $241. However, the bears overcame the bulls and the coin touched a low of $217 on July 13 before an upward correction lifted the price to $237 by July 14.

Within this period, BNB’s market capitalization dropped from $39.36 billion to $38.71 billion.

As the price of the BNB coin fell, the number of unique addresses that traded BNB coins between July 8 and 14 also saw a steady decline. In total there was an 8% decline in daily active addresses. 

Source: Santiment

Source : bsc.news

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