by BSC News
June 20, 2022
BNB Chain made significant strides between 10 June and 16 June.
In its newly published Weekly Ecosystem Report, the BNB Chain informed users of the various developmental updates on the Network between June 10 and 16.
According to the report from June 16, all key metrics of the BNB Chain registered some growth compared to the past week. So let’s have a look at some of them:
According to the report, on June 10, The Republic of Palau confirmed the issuance of identification cards to its digital residents in the form of non-fungible tokens (NFTs) minted on the BNB Chain.
Another ecosystem update provided in the report was that, on 13 June, Nansen, a blockchain analytics platform, announced the launch of analytics support for BNB chain NFTs to assist users in making better decisions while investing in NFT projects on the BNB chain.
In addition, on 15 June, CZ announced that users of the Binance App could now book taxis in over 150 countries through the app and make payments either in BNB or BUSD.
The report further confirmed that on 16 June, through a publication post, Ankr, a Web 3.0 infrastructure provider, announced its open-source contributions to BNB Chain through the Erigon Upgrade. Through the Erigon Upgrade, BNB Chain’s storage requirements saw a 75% reduction. The upgrade also increased the RPC request performance by 10 times and made the sync process 100 times faster.
On 10 June, the price per BNB coin was spotted at an index price of $289. However, in light of the bloodbath that plagued the cryptocurrency market in the past week, the price registered a 27% decline. As a result, the market capitalization dropped from $47.2 billion to $34.02 billion within the period under review.
Within that period, on-chain analysis revealed significant traction in whale activity. Although transactions count for whale transactions above $100 thousand saw a 67% decline between 10 June and 16 June, count for whale transactions above $1 million registered a 150% growth within the same period.
BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain-powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
For more information on BNB Chain, these links:
Website | Twitter | Discord | Telegram | GitHub
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto!
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Latest News
2h : 15m ago
US DOJ Wants 3-Year Prison Sentence for Binance Co-Founder CZ
April 23, 2024
Binance’s 53rd Launchpool Project: What is Renzo Protocol?
April 23, 2024
Texas' Blockchain Association and the Crypto Freedom Alliance Sue US SEC
April 23, 2024
Binance Sued in Canada Over Securities Law Violations: What to Know
April 22, 2024
What Are Bitcoin Runes?
April 22, 2024
Binance Executive Arrested in Kenya After Fleeing Nigeria
April 22, 2024
Shiba Inu Secures $12M To Launch Privacy-Centric Layer 3 Blockchain
April 20, 2024
Weekly Article Recap: 4/15-4/19
More News