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AnalytEx: BNB Chain Gas and Token Analysis for August

Data from AnalytEx shows that in August, daily average transactions declined on BNB Chain, while gas fees and unique active addresses grew.

AnalytEx on BNB Chain in August

According to a recent report by AnalytEx, August was marked by ups and downs for BNB Chain. While the network registered declines in daily average transactions and number of issued blocks, it saw growth in its gas fees and unique active addresses on the network within the same period.

AnalytEx is part of the suite of products offered by blockchain security firm HashEx.

Let’s take a look at some of the findings from August on BNB Chain:

Transactions

Per the report, the average number of daily transactions completed in August was 3.2 million. Compared to the 3.7 million transactions recorded in July, the August index represented a 15.2% decline. Since April, average daily transactions on BNB Chain have fallen by 56%.

So far this month, average daily transactions on BNB Chain have been pegged at 3.4 million transactions, continuing the steady decline from the high recorded in May.

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BNB Chain Blocks per Day

According to AnalytEx, BNB Chain also saw a 1.6% decline in its average number of blocks created per day. In August, an average of 28,193 blocks were created daily. Further to the decline in the number of blocks, AnalytEx also found that the average size of all blocks validated daily in August stood at 0.86 GB, falling by 15%.

In the last 17 days, the average number of blocks created per day was 28,692.

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Gas Fees

Despite the fall in transactions on the network in August, average fees paid to process transactions on BNB Chain rallied by 4.43%. According to the report, the average gas fee per transaction in the 30-day period was 7.21 GWEI.

The average gas fee paid per transaction so far this month has been 7.12 GWEI, a 1% decline, data from AnalytEx shows.

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AnalytEx on Active Addresses

According to its findings, AnalytEx reported that BNB Chain saw a 20% growth in its unique active crypto wallets. Within the 30-day period, active wallets on the network stood at 9.1 million.

While there was a month-over-month increase in unique active wallets on BNB Chain in August, AnalytEx pointed out that there was a decline in the average number of daily active addresses on the network within the same period. Daily active addresses declined by 7.9% within the period under review.

At press time, the average number of daily active addresses on BNB Chain in September was 937,168 addresses.

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$BNB in September

The BNB coin started the month at an index price of $280, according to CoinMarketCap. After its price dropped to a low of $262 per BNB coin on Sept. 7, the bulls took over the market to initiate a temporal price rally that pushed the price of the fifth-largest crypto asset to $299 by Sept. 12.

A price correction, however, occurred before BNB could trade at the $300 price level. It has since declined by 8%. At press time, BNB exchanged hands at $276.63 per coin.

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