BNB Chain Overtakes Solana as the Leader in Active Addresses

BNB Chain has recently regained its position as the top blockchain by active addresses, boasting 52.5 million users, which puts it ahead of NEAR Protocol’s 51.8 million and Solana’s 45.8 million. This marks Solana’s first time being dethroned since August 2024.

Aster Hype

Recently, BNB Chain also surpassed Solana regarding daily chain fees, maintaining the lead for three continued days last month. The resurgence on BNB Chain is linked to the excitement surrounding Aster, which has significantly fueled user engagement and increased on-chain activity.

As of October 4th, Aster’s Total Value Locked (TVL) reached $2.34 billion, a staggering 570% rise from the previous $347 million, indicating a growing trend of users capitalizing on Aster for decentralized trading and yield farming.

BNB Chain’s Layer 1 experienced a 22% growth in active addresses over the past month. Additionally, the Layer 2 scaling solution OpBNB, which is based on the OP Stack, also noted an impressive growth of 66.4% during the same timeframe. Analyst Darkfost stated:

“All of this puts it ahead of chains like Base, Solana, or even Ethereum. The interest is clearly there right now.”

The surge in demand for the BNB Chain ecosystem, paired with limited supply and increasing on-chain liquidity, has caused the BNB token to hit record pricing.

Record-Breaking BNB Rally

This week, BNB reached a new high of over $1,189. CryptoQuant has reported that the futures market shows renewed buying strength, as the Taker Buy dominance returns. The Taker Cumulative Volume Delta (CVD) is trending positively and rising, historically signaling a Taker Buy-dominant phase.

Current trends indicate strong buying momentum in BNB futures, hinting at potential short-term gains. However, overzealous long positions in the derivatives market might prompt swift corrections.