BNB Chain Crushes Solana to Reclaim First Spot in Active Addresses

Solana’s lengthy streak ended as BNB Chain soared again to #1 in lively addresses amidst Aster frenzy.

BNB Chain reclaimed the highest spot in September because the main blockchain by lively addresses, after recording 52.5 million customers.

This surge enabled it to surpass NEAR Protocol’s 51.8 million and Solana’s 45.8 million, marking the primary time the latter has been dethroned since August 2024.

Aster Hype

Curiously, BNB Chain surpassed Solana when it comes to every day chain charges and maintained the lead for 3 consecutive days final month. The renewed momentum on BNB Chain is basically attributed to the hype surrounding Aster, which has sparked huge consumer engagement and boosted on-chain exercise throughout the ecosystem.

On October 4th, Aster’s TVL reached $2.34 billion, a 570% enhance from $347 million, in keeping with information compiled by DefiLlama. The sharp progress signifies that customers are more and more leveraging Aster for decentralized buying and selling and yield farming.

Whereas the BNB Chain Layer 1 recorded a 22% enhance in lively addresses over the previous month, the Layer 2  scaling answer OpBNB, which is constructed on the OP Stack, additionally saw a powerful 66.4% enhance throughout the identical interval. Weighing on the event, analyst Darkfost mentioned,

“All of this places it forward of chains like Base, Solana, and even Ethereum. The curiosity is clearly there proper now.”

The elevated demand for the BNB Chain ecosystem, mixed with shrinking provide and rising on-chain liquidity, has pushed the BNB token to report highs.

File-Breaking BNB Rally

BNB hit a brand new peak of over $1,189 this week. CryptoQuant found that the futures market is exhibiting renewed shopping for power as Taker Purchase dominance returns. Taker Cumulative Quantity Delta (CVD), which tracks the web distinction between market purchase and promote volumes over 90 days, is now optimistic and rising. Traditionally, a rising 90-day CVD signifies a Taker Purchase-dominant section, whereas a falling or detrimental CVD factors to vendor dominance.

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The present pattern suggests sturdy shopping for stress in BNB futures, which helps the opportunity of additional short-term features. Nonetheless, overly aggressive lengthy positions within the derivatives market can rapidly set off corrections.