BNB Chain Activity Defies Crypto Bear Market in Q4: Messari

• BNB Chain showed steady activity growth in Q4 of 2020, despite the bear market.
• Average daily active addresses and transactions increased by 30% and 0.2%, respectively.
• BNB Smart Chain unique addresses have reached an all-time high of 250 million.

BNB Chain Activity in Q4

The Binance-native blockchain BNB Chain continued to show steady activity growth in the fourth quarter of last year despite the broader crypto bear market, according to recent research from Messari researcher James Trautman. Average daily active addresses and transactions on the Binance network grew by 30% and 0.2% year-on-year, respectively. Additionally, BNB Smart Chain unique addresses have hit an all-time high of 250 million.

BNB Chain Development Strategy

Messari noted that teams use bear markets as a period to continue building and developing their products. Trautman wrote that while “2022 was a tumultuous year for the crypto industry,” BNB Chain “lived up to its Build N’ Build name with network upgrades and ecosystem expansion that showed considerable strength through Q4.”

Daily Transactions on the Rise

BscScan reported 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. Moreover, average daily new unique addresses grew 41.3%.

Aggressive Expansion Strategy

Trautman stated that these ongoing updates and developments were due to Binance’s aggressive strategy to deploy financial and human capital across its ecosystem. The company is continuing with this strategy even during a bear market which has helped them maintain their strong activity levels throughout Q4 2020.

Conclusion

Overall, it appears that despite difficult market conditions, Binance’s aggressive expansion strategy has allowed them to maintain strong activity levels throughout Q4 2020 which bodes well for future development on the platform going forward into 2021 and beyond