Points
- BNB Smart Chain （BSC） experienced a 24% drop in Total Value Locked （TVL） in Q2.
- The network’s revenue fell by 28% quarter-over-quarter.
- Despite the overall decline, decentralized exchange Uniswap saw a 630% increase in daily transactions.
- Staked BNB increased by 30% QoQ to 30.4 million BNB.
The BNB Smart Chain （BSC） faced a mixed performance in Q2, reflecting the broader cryptocurrency market’s cooling off after a significant price surge in March. The native token of BSC, BNB, remained mostly flat, down 5% quarter-over-quarter （QoQ）. Key metrics showed both positive and negative trends.
According to a report by market intelligence platform Messari, BSC’s revenue, measuring total fees collected, fell by 28% QoQ to $48.1 million. This drop was largely attributed to the decrease in BNB’s price, as revenue in BNB terms declined 51% sequentially from 165,100 BNB to 81,300 BNB.
Network activity also saw a decline, with average daily transactions dropping 10% QoQ to 3.7 million, and average daily active addresses falling 18% QoQ to 1.1 million. This trend was consistent across most smart contract platforms in Q2 after a strong Q1.
Despite the overall decline, notable shifts in user preferences were observed within the BSC ecosystem. Decentralized exchange （DEX） Uniswap experienced a significant increase in daily transactions, up 630% QoQ, while the previously dominant PancakeSwap saw a 46% QoQ decrease.
Additionally, the report highlighted a surge in staking, with the total BNB staked increasing 30% QoQ to 30.4 million BNB. The total dollar value of staked funds rose 24% to $17.7 billion, ranking BSC as the third-highest Proof-of-Stake （PoS） network by staked value, although it still lags behind Solana by a significant $38.4 billion.
BSC’s decentralized finance （DeFi） ecosystem saw a 24% QoQ decrease in total value locked （TVL） to $5.5 billion, primarily driven by a 41% QoQ drop in borrowing on the DeFi protocol, Venus Finance.
Despite these fluctuations, BSC maintained the third-highest DEX trading volume in Q2, with $66 billion in total volume, trailing only Ethereum and Solana. As of the end of Q2, the BNB token was trading at $586, up over 2% in the last 24 hours. However, trading volume had decreased by 3% to $830 million.
解説
- The decline in TVL and revenue highlights the challenges faced by BSC amid market fluctuations.
- The surge in Uniswap’s transactions indicates a shift in user behavior within the BSC ecosystem.
- The significant increase in staked B
NB demonstrates strong confidence among BSC users, suggesting long-term belief in the network’s potential.
– Despite the decline in TVL and other metrics, BSC remains a major player in the DeFi space, maintaining significant trading volumes.
– The mixed performance of BSC highlights the dynamic nature of the cryptocurrency market and the need for continuous adaptation and innovation to maintain growth and relevance.