Analytics

Binance Smart Chain Recap Analytics and Analysis (04/15/2021)

Join CryptoRich in his weekly series, “BSC Recap: Analytics and Analysis,” where he dives into data, graphs, and the latest projects, providing insight on the state of the BSC.

Welcome to this week’s recap; the numbers look very promising, so let’s not waste time and get into this week’s metrics.

Unique Addresses

The Week over Week (WoW) growth in unique wallet addresses for the BSC is 2.53%. This is significantly more than the 1.47% we saw in last week’s recap. On average, 227,650 new addresses could be seen per day, resulting in a total growth of 1,593,552 unique addresses for the past week.

The Ethereum Network added some 110,000 new wallet addresses per day, bringing the total number of unique wallet addresses to 147,606,870. A WoW increase of 0.64%.


Daily Active Wallets

We can see that there are still slightly more wallets active on the Ethereum Network. On average, some 550,000 wallets are active on the Etherum Network. The BSC see’s an average of about 450,000 active wallet addresses. With De-Fi growing, more people continue to find their way to the various smart chains available. This growth is expected to sustain as cryptocurrencies and DeFi continue to grow exponentially


Daily Transactions

In last week’s recap, I mentioned that it would only be a matter of time before we reach a new all-time high (ATH) in transaction count. On Thursday, April 8th, a new ATH transaction count was registered, with 4,995,155 transactions that were confirmed that day. That is almost four times as much as the Ethereum Network can handle in a day.

The fully utilized and very congested  Ethereum Network handles an average of 1,300,000 transactions per day.  The high congestion makes for slow and (very) expensive transactions on the Ethereum network.


Gas Price, Block Times, Network Utilization and Validators

On a record-breaking day, the BSC congestion reached 64.42% when handling almost 5 million transactions. For the rest of the week, we could see utilization rates at about 50%. BSC is still far from getting congested, and this also means that gas fees remain at 5gwei. This ensured that a cheap gas fee will always be sufficient for a swift transaction. A block gets validated by an active validator every three seconds, making your confirmation fast and safe.

Out of the currently 42 validators, there are always 21 “Active” validators. The active validators are the ones that confirm your transactions in the blocks they validate.

To become an active validator (and start earning from transaction fees), you need to stake $BNB for voting power. The 21 validators with the most voting power get assigned as active. Every four hours, voting power is re-evaluated, the biggest stakers become active.

Currently, to become an active validator, you would have to stake at least 291,556 $BNB, which is similar to last week's number needed. Yet, validators all have to keep on stacking $BNB to remain relevant (active).

Anyone can become a validator; if you want to become a validator or want more info, follow THIS link to the validator guideline by Binance. (Running a node requires some investment and technical insight)

Top Token Transfers

Safemoon is still up in the top region together with $CAKE and $BUSD. We can see many newcomers in the top 20 this week, which is fantastic:

  • Tokocrypto Token      $TKO
  • ElonGate                     $ElonGate 
  • VANCAT Token          $VANCAT
  • Alien Worlds Trilium   $TLM
  • MDX Token                 $MDX 
  • Ellipsis                         $EPS

Another token peeking in at the top 20 is the FreeCoin, this token was airdropped to many early wallets back in 2020.


New Yield Farms

Six new projects launched since last week's overview; this is not counting the one that rug-pulles.

Aladdin’s DeFi                    De-Fi yield farming and more. Audit, Audit

Adventureland Finance       Farming, staking, and lottery 

Dumpling Swap                  Staking and farming, lottery and fortune wheel, no developers fees

Toad Network                     A yield farming project claiming to be rug-pull proof. 

Zexswap Finance                Audited yield farming and staking

LokumFinance                    and finally another Audited yield farming project.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC, it is crucial to reference the following items, HERE and HERE.

None of our articles are advice, and all financial decisions should be made on your behalf or on behalf of a professional financial advisor.


Final Thoughts 

It has been an incredible week for the crypto space, especially for the BSC and its native coin $BNB. All-time highs have been shattered, and there is no sign that this bull market will end soon. The ever-growing number of projects on the BSC and the ever-growing user base presents a bullish outlook. So go and let the bulls graze in the green fields of De-Fi.

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