It is no surprise that Layer-1 chains have shared the carnage during the first half of 2022. Top L1s have been struggling to hold their fort in the current market conditions. These include Ethereum, BNB Smart Chain, and Solana which continue to head L1 chains at the summit. However, BNB appears to have taken the […]
It is no surprise that Layer-1 chains have shared the carnage during the first half of 2022. Top L1s have been struggling to hold their fort in the current market conditions.
The same, as it stands, cannot be said for the BNB Chain. The native BNB token is around 60% down from its ATH of $654.32 to $260.32 at press time. The recent growth on the token is down to an overall relief rally in the market. But the troubles on the chain run far deeper than the token’s performance.
Data shows that BNB Chain has experienced the worst showdown among the three chains since their ATHs in early November 2021. Its daily transactions have fallen by 58.2% from the day of its ATH while Solana and Ethereum have fallen by 18.1% and 13.7% respectively.There is a change in prophecy while observing the daily active addresses on these chains. Solana has managed to show growth in its active addresses by 20.4% given the expansion of its ecosystem.
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