In brief:
- The daily transaction count on the Binance smart chain has exceeded that of Ethereum
- 1.6 million transactions were settled on the Binance Smart Chain yesterday, February 15th compared to Ethereum’s 1.2 million
- The Binance smart chain has also seen an explosion of 1.593 million new addresses in a single day
- The above on-chain metrics point towards a bullish future for Binance Coin (BNB)
The amount of daily transactions on the Binance smart chain has exceeded that of Ethereum. This milestone was highlighted by the CEO of Binance on Twitter through the following statement.
There are currently more daily transactions on #BSC than on ETH network. Soon, the total value transacted on #BSC will also surpass ETH. Just a matter of time now. #BNB (I am not against ETH. I support growth of both.)
1.6M Daily Transactions on the Binance Smart Chain Compared to Ethereum’s 1.2M
A quick check of BSCscan.com reveals that the Binance Smart Chain handled 1.607 million transactions, yesterday, February 15th. Doing a similar check on Etherscan.io reveals that Ethereum settled 1.21 million transactions on the same day. The number of daily transactions is demonstrated via the two screenshots below courtesy of each tracking website.
Binance Smart Chain Sees 1.593M New Addresses in a Single Day
The impressive increment of daily transaction volume is attributed to the Binance smart chain having much lower fees in comparison to Ethereum during periods of network congestion. The lower fees on the Binance smart chain have continued to attract new users with the network experiencing a record-breaking 1.593 million new unique addresses in a single day.
The chart below, courtesy of BSCscan.com, highlights the parabolic increment of unique addresses on the Binance smart Chain.
On-Chain Metrics Point Towards a Bright Future for Binance Coin
With respect to the price of Binance Coin, the popularity and daily use of the Binance Smart Chain demonstrated above, will definitely have a positive effect on the price of BNB. At the time of writing, Binance Coin has more or less found a floor at $130 and BNB could very well be the next coin on the move after Bitcoin completes its mission of conquering $50k.