ON–071: Layer 1s (Part 2)

Coverage on Near, Avalanche, Terra, Solana, and BSC.

May 14, 2021

⑤ Binance Smart Chain (BSC)

📈 BSC breaks ATH for active addresses reaching 1.08M unique wallets

  • Active wallet addresses on Binance Smart Chain continue to grow at increasing rate compared to Ethereum, accelerating to rate 3x higher than Ethereum since the start of May (with average growth rates of 4.8% vs 1.5%, respectively).
BSCscan, Etherscan
  • Daily transactions on Binance Smart Chain have also seen tremendous growth, currently experiencing a continuation of an already impressive rate. Compared to Ethereum’s daily average growth rate for transaction (at ~0.3%), BSC’s daily average growth rate for transactions is 9x greater (at ~2.9%), as estimated since BSC’s breakout in early February.
BSCscan, Etherscan
  • With only 21 slots available for ‘active stakers’ the BSC protocol re-evaluates voting (staking) power every four hours, making sure the biggest stakers are active. Currently to qualify as an active staker individuals have to stake at least 328,731 BNB, ~30% greater than last weeks active staker threshold.

About the editor: Spencer Noon is an investor at Variant, a first-check crypto VC fund.