May 2, 2024 - The latest report on BNB Chain's performance in Q1 2024 has been released. The report contains updates and growth metrics for BNB Chain's key components including BSC TVL, opBNB, BNB Greenfield, and security measures.
During Q1 2024, there was a 27.3% increase in the average Daily Active Users (DAU) on BSC compared to the previous quarter, reaching 1.4 million. The Total Value Locked (TVL) on BSC also increased by 70.8% from $3.49 billion to $5.96 billion by the end of Q1. Moreover, the price of the BNB token rose by 93.5% and the market capitalization grew to $43.7 billion during the same period. The total unique addresses on BSC increased to 435 million, making it the top EVM-compatible blockchain in daily new unique addresses.
As part of the "One BNB" strategy, opBNB demonstrated growth by becoming the leading blockchain in terms of Daily Active Users (DAU) during Q1 2024. This growth led to over 20 million distinct addresses on opBNB in this quarter.
In terms of technology updates, the opBNB team launched its 2024 roadmap with the goal of achieving 10,000 TPS and being 10 times more cost-effective. The Path-Based Storage System (PBSS) solution is being integrated to optimize blockchain storage, expected to roll out in Q2 2024. Additionally, new projects like Bitget Wallet and Binance Web3 Wallet started utilizing opBNB Bridge, with a customized gas token for opBNB also in development.
BNB Greenfield, the decentralized storage platform, exceeded 415 GB in network storage data size with daily stored data reaching a peak of 33.84 GB on February 22, 2024.
The implementation of three major forks (Hulunbeier, Ural, and Pawnee) by BNB GreenField brought unique enhancements to improve user experience and backend operations.
Overall, there was a 55.8% decrease in value loss compared to the same period last year, indicating ongoing enhancements and efforts towards security and user protection through AvengerDAO.
For more details, you can read the full BNB Chain Q1 report.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that facilitates Web3 adoption. It comprises BSC, a secure DeFi hub with low gas fees, opBNB for scalability and fast processing speeds, and BNB Greenfield for decentralized storage solutions.
To ensure security, AvengerDAO safeguards users while Red Alarm provides real-time risk-scanning for Dapps. Moreover, the ecosystem offers various rewards through the Builder Support Program.
For additional information, follow BNB Chain on X or explore the Dapp library.
