While Binance Smart Chain now processes over 12.5 billion total transactions, its true power is revealed in the details—from sub-penny fees and near-perfect uptime to a bustling ecosystem of 12,000 monthly active developers building for millions of users.
Key Takeaways
- Binance Smart Chain (BSC) has processed over 12.5 billion total transactions since inception as of October 2024
- The average block time on BSC is 3.12 seconds over the last 24 hours ending October 2024
- BSC's current gas price average is 1.2 Gwei as measured in real-time October 2024
- BSC daily transaction volume hit 45 million txns on peak day October 2024
- Average transaction fee on BSC is $0.00015 USD over last 7 days October 2024
- Total failed transactions on BSC lifetime: 2.1 billion as of October 2024
- TVL on BSC DeFi protocols reaches $5.2 billion USD as of October 2024
- PancakeSwap dominates BSC TVL with $1.8 billion locked October 2024
- BSC stablecoin market cap in DeFi: $3.1 billion October 2024
- Unique wallets interacting with DeFi on BSC: 2.1 million DAU October 2024
- Total wallets created on BSC: 48 million cumulative October 2024
- Daily new wallet creations: 150,000 on BSC October 2024
- Total BNB supply on BSC mainnet: 147.5 million circulating October 2024
- BNB price averaged $580 USD over last 30 days October 2024
- BSC token burn events: 45 burns totaling 38 million BNB October 2024
Binance Smart Chain is a fast, affordable, and highly active blockchain network.
Adoption and Users
- BSC has minted over 1.2 billion NFTs across marketplaces as of October 2024
- GameFi projects on BSC: 350 active dApps with 5 million MAU October 2024
- Partnerships announced: BSC integrates with 150+ wallets October 2024
- Developer count building on BSC: 12,000 monthly active October 2024
- dApp downloads via BSC chains: 20 million in Q3 2024
- Social media mentions: 1.5 million weekly for BSC October 2024
- Exchange listings for BSC tokens: 450 tokens on top 10 CEX October 2024
- Community size: 2.8 million Telegram members BSC official October 2024
- Hack incidents resolved: 95% recovery rate on BSC October 2024
- Mobile dApp usage: 60% of BSC activity from mobiles October 2024
- Enterprise adoptions: 25 companies using BSC private chains October 2024
- Grant programs funded: $50 million via BSC fund October 2024
- Cross-chain dApps: 120 bridging BSC to 10+ chains October 2024
- Educational resources: 500k users on BSC academy October 2024
- TVL growth YoY: 250% increase for BSC DeFi October 2024
Adoption and Users Interpretation
BSC has become a bustling, slightly chaotic digital metropolis where users mint NFTs by the billion, developers flock to build 350 active dApps, and the community's 2.8 million-strong Telegram group probably needs a few more moderators to handle all the chatter, all while somehow maintaining a 95% hack recovery rate that suggests they've gotten alarmingly good at cleaning up their own messes.
DeFi Metrics
- TVL on BSC DeFi protocols reaches $5.2 billion USD as of October 2024
- PancakeSwap dominates BSC TVL with $1.8 billion locked October 2024
- BSC stablecoin market cap in DeFi: $3.1 billion October 2024
- Lending protocols TVL on BSC: $850 million October 2024
- Yield farming APYs average 15% across BSC pools October 2024
- DEX volume on BSC 24h: $1.4 billion October 2024
- Liquid staking derivatives TVL: $420 million on BSC October 2024
- Perpetual DEXes on BSC handle $300 million daily volume October 2024
- Bridge inflows to BSC: $2.5 billion monthly average October 2024
- RWA TVL on BSC platforms: $150 million October 2024
- Options trading volume on BSC: $120 million weekly October 2024
- Airdrop farming TVL contributions: 12% of BSC DeFi October 2024
- CDP protocols TVL: $280 million on BSC October 2024
- Total DEXes active on BSC: 145 protocols October 2024
DeFi Metrics Interpretation
While PancakeSwap may be the king of the BSC jungle with its $1.8 billion throne, the true story of this $5.2 billion ecosystem is a vibrant, sprawling, and often surprisingly lucrative bazaar where everything from stablecoins and lending to perpetuals and airdrop farming are all vying for a slice of the pie.
Network Performance
- Binance Smart Chain (BSC) has processed over 12.5 billion total transactions since inception as of October 2024
- The average block time on BSC is 3.12 seconds over the last 24 hours ending October 2024
- BSC's current gas price average is 1.2 Gwei as measured in real-time October 2024
- Total blocks mined on BSC exceed 52 million as of October 2024
- BSC network hash rate equivalent stands at approximately 15 EH/s in validator consensus terms October 2024
- Daily active addresses on BSC peaked at 1.23 million on October 15, 2024
- BSC uptime has been 99.99% over the past 365 days as per official reports October 2024
- Finality time on BSC averages 6 seconds under Proof of Staked Authority October 2024
- BSC validator count is fixed at 21 active validators as of October 2024
- Network throughput on BSC reaches up to 200 TPS in peak conditions October 2024
- BSC has executed 1.8 million transactions in the last hour as of October 2024 snapshot
- Cumulative unique addresses on BSC surpass 45 million as of October 2024
- BSC fork support interval is every 100 epochs or approximately 3 days October 2024
- Instant finality latency on BSC is under 2 seconds for 95% of blocks October 2024
- BSC node synchronization time for full node is about 4 hours with SSD October 2024
- Daily new blocks on BSC average 28,800 per day October 2024
- BSC EVM compatibility score is 100% with Ethereum October 2024
- Network latency between BSC RPC nodes averages 50ms globally October 2024
- BSC supports up to 1,000,000 gas limit per block October 2024
- Historical peak TPS on BSC was 1,452 during DeFi summer 2021, updated October 2024
Network Performance Interpretation
Despite its claims of being the "people's chain," Binance Smart Chain has all the centralized efficiency of a high-speed bullet train, but with the conductor count and schedule set firmly at twenty-one.
Token and Economic Data
- Total BNB supply on BSC mainnet: 147.5 million circulating October 2024
- BNB price averaged $580 USD over last 30 days October 2024
- BSC token burn events: 45 burns totaling 38 million BNB October 2024
- Stablecoin dominance on BSC: 22% of total chain value October 2024
- BUSD supply on BSC: 1.2 billion before phaseout October 2024
- CAKE token total supply: 450 million on PancakeSwap BSC October 2024
- Gas token economics: BNB burns from fees 2.5 million yearly October 2024
- Market cap of top 10 BSC tokens: $15 billion combined October 2024
- Inflation rate of BNB staking rewards: 7% APR average October 2024
- Token listings on PancakeSwap: 5,200 pairs active October 2024
- Meme coin market cap on BSC: $2.8 billion October 2024
- Wrapped tokens TVL: $1.1 billion on BSC October 2024
- Launchpad token raises on BSC: $450 million cumulative October 2024
- Fee revenue to validators: $120 million annualized October 2024
Token and Economic Data Interpretation
Despite burning enough BNB to make a dragon blush and hosting a meme coin circus worth billions, BSC's real magic trick is maintaining a $580 average price while its validators earn a king's ransom and its users navigate a dizzying bazaar of over five thousand token pairs.
Transaction Statistics
- BSC daily transaction volume hit 45 million txns on peak day October 2024
- Average transaction fee on BSC is $0.00015 USD over last 7 days October 2024
- Total failed transactions on BSC lifetime: 2.1 billion as of October 2024
- Internal transactions on BSC total 8.7 billion cumulatively October 2024
- ERC-20 token transfers on BSC: 9.2 billion lifetime October 2024
- Contract creation transactions: 1.4 million daily average October 2024
- BEP-20 transfers dominate 65% of BSC tx volume October 2024
- Pending transactions queue averages 1,200 during peaks October 2024
- Transaction confirmation time averages 3.5 seconds 99th percentile October 2024
- Cross-chain bridge transactions via BSC: 150 million cumulative October 2024
- NFT mint transactions on BSC: 320 million total October 2024
- Stablecoin transfer txns: 4.5 billion on BSC October 2024
- DEX swap transactions: 2.8 billion yearly average October 2024
- Multi-sig wallet txns: 450,000 monthly on BSC October 2024
- Batch transactions processed: 1.2 billion efficient batches October 2024
Transaction Statistics Interpretation
The BSC is clearly processing transactions at a comically cheap price, though at this industrial scale, even a 99.9% success rate means the sheer volume of activity has left a couple billion failures to contemplate in the rearview mirror.
User and Wallet Data
- Unique wallets interacting with DeFi on BSC: 2.1 million DAU October 2024
- Total wallets created on BSC: 48 million cumulative October 2024
- Daily new wallet creations: 150,000 on BSC October 2024
- Top 100 wallets hold 45% of BNB supply on BSC October 2024
- Active DeFi users on BSC: 850,000 weekly October 2024
- NFT collectors wallets: 1.2 million unique on BSC October 2024
- Staking participants on BSC validators: 750,000 delegators October 2024
- GameFi player wallets: 3.5 million registered on BSC October 2024
- Whale transactions (> $1M): 2,500 daily average October 2024
- Multi-chain user overlap with BSC: 65% of Ethereum users October 2024
- Dormant wallets reactivated: 45,000 monthly on BSC October 2024
- Institutional wallet count: 1,200 verified on BSC October 2024
- Mobile wallet integrations with BSC: 25 million downloads October 2024
User and Wallet Data Interpretation
Beneath BSC's bustling surface of 150,000 daily newcomers and 3.5 million GameFi players, a familiar, sobering story emerges: just 100 whales hold a staggering 45% of the BNB, a concentration of power that makes the network's 48 million total wallets feel more like a crowded town square governed by a very small, very wealthy committee.
Sources & References
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