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Weekly Analysis of Binance Ecosystem (Aug. 26 - Sept. 3)

Happy Birthday, BNB Chain! A look into BNB Chain performance and Binance ecosystem updates from August 26 and September 3, as BNB Chain turns two.

BNB Chain Key Data Highlights

Here are some key metrics of BNB Chain’s performance between August 26 and September 3:

  • Weekly Active Users: Between August 26 and September 3, Weekly Active Users (WAU) on BNB Chain totaled 2.87 million. This represented an 8.7% uptick from the 2.60 million logged as WAU by BNB Chain in the previous week.
  • Weekly Transactions: This week, 20.5 million transactions were completed on BNB Chain, representing an 8.1% jump from the 19 million transactions registered on BNB Chain in the week before.
  • Average Daily Transactions: Between August 26 and September 3, BNB Chain saw average daily transactions of 2.93 million, approaching 3 million. That ended the 3-week long streak of decline in daily transactions on the network and represented an 8.1% growth in daily transactions on the network in the last week.
  • Average Gas Fee: For the third consecutive week, in all transactions executed on BNB Chain between August 26 and September 3, the average gas fee remained pegged at 0.00080 BNB.

BNB Chain and Binance Ecosystem Update

To make for an optimal user experience, the BNB Chain and the Binance ecosystem saw many significant developments between August 26 and September 3. These included the launch of BNB Boost on CoinMarketCap, the addition of NEAR and LDO tokens as a new borrowable asset, the suspension of deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC), and more.

BNB Boost on CoinMarketCap

On August 30, BNB Chain announced the launch of the BNB Boost Campaign on CoinMarketCap. Through this campaign, users can earn up to $250,000 by completing lessons on products offered by leading DeFi protocols on BNB Chain, such as Ankr, Stader Labs, pStake Finance, Wombat Exchange, and Helio Money.

NEAR and LDO tokens as new borrowable assets on Binance Loans

In the last week, Binance Loans announced the inclusion of NEAR and LDO as borrowable assets on the platform. LDO is the native token of Lido Finance, the leading Ethereum liquid staking protocol ahead of the merge. With the merge just a few days from now, the inclusion of LDO as a borrowable asset on its platform is an indication of the continued support Binance has for the Ethereum network transition.

Suspension of deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC)

Prior to September 2, Binance had supported the deposits and withdrawals of LUNC (Shuttle) via Ethereum network (ERC20) and Terra Classic network, and USTC (Shuttle) via BNB Smart Chain (BEP20), Ethereum network (ERC20), Polygon network, and Terra Classic network.

However, with the closure of the Shuttle Bridge, Binance, on September 2, announced the suspension of deposits and withdrawals of LUNC (Shuttle) via Ethereum network (ERC20) and USTC (Shuttle) via BNB Smart Chain (BEP20), Ethereum network (ERC20) and Polygon network. The Shuttle Bridge is a Terra-Ethereum bridge that allows Terra assets to be sent between Terra and Ethereum networks.

BNB Coin Price Performance

According to CoinMarketCap, $BNB exchanged hands at $264.55 as of writing. In the past week, BNB coin logged a 7% price decline. In line with the price decline, trading activity on the network also dropped overall, per data from Santiment.

BNB Chain Birthday Bash

BNB Chain also celebrated its second birthday. The chain commemorated its second year of activity by releasing a video on Twitter to show off past achievements and hype users with some teases for the future.

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