Binance smart chain daily trading volume hit a record high

Spark Global Limited reports:

Binance Smart Chain hit a record-breaking milestone on Tuesday, with more than 14.7 million blockchain transactions in one day, bringing the cumulative volume of transactions to about 1.75 billion, according to BscScan analysis data.

Analytics from BscScan, a sister product of Etherscan, showed that binance Smart Chain (BSC) exceeded 14.7 million daily transactions on Tuesday.

That set a landmark all-time high for the decentralized financial network, surpassing the previous record of 13.1 million transactions set on July 29.

In addition, 276,446 new wallet addresses were created on BSC on Tuesday, a significant increase from 111,244 new addresses on July 29. The BSC team shared the milestone with an official announcement on Twitter this morning.

According to Spark Global Limite
According to Spark Global Limited

“Congratulations to the entire #BSC community!

Binance Smart Chain set a record breaking milestone, with more than 14.7 million blockchain transactions in one day; This is a milestone no other blockchain project has ever reached!”

– BinanceChain smart Chain (@binancechain) November 17, 2021

For a better comparison, the Ethereum network recorded a total of 1.3 million transactions on Tuesday, adding 134,354 new addresses, while the Bitcoin network achieved a total of 301,103 transactions and 740,829 new addresses were created.

Comparing transaction metrics between different blockchain networks, Samy Karim, BSC Ecosystem Coordinator, noted, “Daily transactions on the BSC blockchain have averaged well over 10 million TXS in the past two weeks. BSC currently has an ecosystem that records the highest number of transactions at the lowest cost compared to other blockchains.”

Binance Smart Chain was established in late August 2020 as a publishing platform to foster the development of innovative start-up projects and decentralized applications compatible with the Ethereum blockchain through Ethereum virtual machines. So far, the platform facilitates more than 1,000 Dapps.

On October 12, major cryptocurrency exchange Binance announced the launch of a $1 billion accelerator fund to increase the share of the BSC ecosystem in cryptocurrency focus areas such as metasexes, gaming, virtual reality and artificial intelligence.

Gwendolyn Regina, investment director of the BSC Accelerator Fund, shares some insights into the ten-figure pot:

“The $1 billion growth fund has begun to predict the growth of the BSC ecosystem. We will support over 500 projects built on TOP of the BSC, with the aim of continuing to attract a new 1 billion users to join the blockchain and cryptocurrency space.”

BSC is the base layer of 159 protocols, the most prominent of which is PancakeSwap. According to Defistation data, it currently reports a total locking value of $17.77 billion, which accounts for the majority of the $30.6 billion on the BSC platform.

Source: Spark Global Limited