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Update: BNB Chain’s Layer 2 opBNB Market Share Surges by 69%

Fueling its growth, Binance has also opened deposits and withdrawals of BNB, FDUSD, and USDT on the Layer 2 network.

Summary

  • BNB Chain's Layer 2 solution, opBNB, has achieved a rapid 69% surge in market share growth in just under two months since its mainnet launch.
  • Binance has integrated opBNB, offering support for deposits and withdrawals of BNB, FDUSD, and USDT on the layer 2 network, highlighting opBNB's appeal for high-frequency transaction dApps in gaming, SocialFi, and DeFi.

opBNB DAU Soars

BNB Chain's Layer 2 solution, opBNB, has rapidly emerged as the second most popular Layer 2 blockchain by daily active users (DAU), achieving a remarkable 69% surge in market share growth in just under two months since its mainnet launch. Earlier in September, BNB Chain unveiled the opBNB Mainnet for the public, following rigorous periods of testing.

opBNB DAU. Source: opBNBScan

OpBNB's Daily Active Users (DAU) skyrocketed to an impressive 92,761, according to opBNBScan, indicating a 69% growth in market share in the L2 space.The surge highligts the network's rapid development and its suitability for high-frequency transactions across various sectors, including SocialFi, DeFi, and GameFi.

Binance Integrates opBNB

In addition to the surge in daily active users, Binance, on November 8, announced support for deposits and withdrawals on opBNB, integrating BNB, FDUSD, and USDT on the layer 2 network. 

OpBNB's appeal lies in its ability to cater to high-frequency transaction dApps, particularly within the gaming, SocialFi, and DeFi sectors. Built on the BNB Smart Chain (BSC), opBNB offers low gas fees, high speeds, and scalability, making it a preferred choice for developers and users alike.

Notable on-chain growth statistics further demonstrate opBNB's ascent:

  • DAU Peak: OpBNB witnessed a surge in DAU, peaking at 92,761 on September 15, propelling its market share from 13% to 22% within one month.
  • Total Transactions: Over 13.6 million transactions have been executed on opBNB since the mainnet launch.
  • Total Value Bridged (TVB): OpBNB's TVL experienced a 23% surge, with net inflows reaching $4.7 million by the end of Q3, per data from Messari.
  • Total Deployed Contracts: OpBNB has seen 143,502 contracts deployed to date.
  • Average Gas Price: With a low average gas price of 0.008 Gwei, opBNB proves to be a cost-effective choice for high-frequency transactions, NFT minting, and other applications, in comparison to other blockchains where gas fees can soar beyond $10 for NFT minting.
  • Transactions Per Second (TPS): OpBNB's TPS now rivals leading Layer 2 solutions, averaging at 5 TPS, positioning it as one of the top-performing blockchains according to l2beat data.

The BNB Chain Core Development Team expressed their excitement, stating:

"opBNB is having a profound impact on the industry, especially for high-frequency transaction dApps across SocialFi, GameFi, and DeFi." 

The team believes Binance’s support will improve efficiency, liquidity, and accessibility for users, reducing withdrawal times as well as enable seamless management of opBNB assets on the exchange.

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