The active addresses and transactions count of BNB increased in the last quarter. TVL and NFT ecosystems witnessed a decline. Messari recently published Binance Coin’s [BNB] 2022 Q4 report, which highlighted the blockchain’s performance during the last three months of the previous year. As per the report, BNB Chain registered growth in quite a few […]
as several of the other areas registered a decline. The most notable was a decline in BNB Chain’s revenue. According to the report, quarterly revenue decreased from $66.8 million to $59.98 million in Q4 2022.’s network value followed the quarterly revenue and registered a decline of -13.4%.
The same trend was true for the network’s Total Value Locked as the value denominated in BNB and USD declined by 12% and 24%, respectively. Talking about TVL dominance, PancakeSwap managed to lead, followed by Venus and Alpaca Finance.It should be noted here that BNB Chain’s secondary NFT sales dropped by more than 67%, which looked concerning for the network.
However, the chain’s integration with OpenSea helped change the situation. After BNB Chain’s NFTs were listed on OpenSea, the number of unique buyers skyrocketed.The new year began with a change in the market’s overall sentiment as most of the cryptos gained bullish momentum. Therefore, a few of the metrics turned in favor ofFor instance, while BNB’s NFT ecosystem witnessed a decline in Q4 2022, the new year changed the scenario.
The blockchain’s popularity rose as its social volume went up. Moreover, BNB’s demand in the futures market increased, as suggested by its Binance funding rate. Nonetheless, despite a considerable price pump, BNB’s MVRV Ratio took a hit, which was a little surprising.Subscribe to get it daily in your inbox.