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Weekly Analysis of Binance Ecosystem (July 22 - 28)

A look into BNB Chain performance and Binance ecosystem updates from July 22-28

BNB Chain Key Data Highlights

Here are some key metrics of BNB Chain’s performance between July 22 and 28:

  • Weekly Active Users: Within the period under review, the index for the Weekly Active Users (WAU) on the BNB network declined by 5% from the 3.01 million addresses recorded the week before. Between July 22-28, BNB Chain drew 2.86 million active users. 
  • Weekly Transactions: Between July 22-28, a total of 21.9 million transactions were completed on BNB Chain. This represented an 11% decline from the 24.5 million recorded in transactions the week before.
  • Average Daily Transactions: With 3.13 million recorded in average daily transactions on BNB chain between July 22-28, the index for this growth metric grew by 1% from the 3.07 million recorded in the week before.
  • Average Gas Fee: For all transactions executed on BNB chain between July 22-28, the average gas fee was pegged at 0.00082 BNB, a 1.2% uptick from the 0.00081 BNB  recorded the week before.


BNB Chain and Binance Ecosystem Update

In the period under review, many developments occurred on BNB Chain and within the Binance ecosystem. These include selecting participants for the Most Valuable Builder (MVB) V Accelerator Program, adding the APE coin as a borrowable asset on the Binance Loans platform, opening four new liquidity pools, and more.

The MVBV Accelerator Program

Following the receipt of more than 650 applications for its MVBV Accelerator Program, BNB Chain announced on July 27 the selection of 27 projects to participate in the latest iteration of its accelerator program, MVB V: Uncharted Territory. According to the blog post, the projects selected were chosen because of their focus on “infrastructure and tooling, decentralized finance (DeFi), SocialFi, NFTs, and GameFI.”


APE Now a Borrowable Asset

On July 26, Binance announced the addition of the APE token as a borrowable asset on its Binance Loans platform. As a result, users are now able to borrow APE tokens and stake a wide range of other crypto assets as collateral. 

Four New Liquidity Pools

On July 29, Binance Liquid Swap announced the addition of four new liquidity pools. They include DOGE/BUSD, LINK/BUSD, LTC/BUSD, and the SHIB/BUSD liquidity pools.

Price Performance

Per data from Santiment, the price of $BNB rallied by 6% between July 22-28. In the same period, the coin’s trading volume grew from 1.17 billion to 1.65 billion. Also, the coin’s market capitalization rose from $42 billion to $44 billion.

Source: Santiment

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