BSC News

Weekly Analysis of Binance Ecosystem (Sept. 16-23)

We offer insights into BNB Chain performance and Binance ecosystem updates from the last week, including users, transactions, news and price movement.

BNB Chain Key Data Highlights

Here are some key metrics of BNB Chain’s performance between Sept. 16 and 23:

  • Weekly Active Users: Between Sept. 16-23, BNB Chain recorded 3.20 million active users, culminating in the second consecutive week of decline in Weekly Active Users (WAU) on the network. In the previous week, WAU on BNB Chain was 3.25 million.
  • Weekly Transactions: Between Sept. 16-23, BNB Chain logged 21.3 million transactions completed on the chain. That was a 27% decline from the 27.1 million transactions completed the week before.
  • Average Daily Transactions: The number of average daily transactions on BNB Chain was 3.04 million. That was a 2% decline from the previous week.
  • Average Gas Fee: Transactions on BNB Chain between Sept. 16-123 cost an average gas fee of 0.00074 BNB. In the week before, this was 0.00078 BNB.

BNB Chain and Binance Ecosystem Update

Like every week, the Binance and BNB Chain ecosystem registered a series of significant developments in the week under consideration. These included the confirmation of the introduction of a tax burn fee for $LUNC and $USTC on Terra Classic (LUNC) network, the launch of AvengerDao, the launch of the Binance Gift Card Marketplace, and more.

Tax Burn Fee for LUNC Network

Subsequent to proposals passed by the members of the Terra community to introduce a 1.2% tax burn for on-chain transactions of $LUNC and $USTC on Terra Classic network, Binance informed its users on Sept. 16 that $LUNC and $USTC deposits into Binance hot wallets will be subject to a 1.2% tax burn fee.

Meet the AvengerDAO

In a Sept. 20 announcement, BNB Chain informed users of the launch of “AvengerDAO.” Designed to operate as a community-run security infrastructure project, AvengerDAO was built to safeguard BNB Chain users from “exploits, scams, and malicious actors.”

According to the blog post, the AvengerDao system comprises three major features, working together to ensure additional security on BNB Chain. They include:

  • Meter, a passive API system;
  • Watch, a subscription-based alert system; and
  • Vault, a programmable fund management system.

Binance Gift Card Marketplace

On Sept. 22, Binance announced the launch of the Binance Gift Card Marketplace, where the exchange’s users can transact cryptocurrency in a quicker, safer, and more convenient way. Via the Marketplace, users can pick up various gift cards, including Blindbox gift cards, Cashback gift cards, and Fixed-Denomination gift cards, all of which have attached to them varying incentives.

BNB Coin Price Performance

According to CoinMarketCap, $BNB exchanged hands at $274.06 as of writing. The price per BNB coin rallied by 4% in the past week.

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