The BNB Smart Chain (BSC) experienced a mixed performance in the second quarter (Q2) of the year as the broader cryptocurrency market cooled off after a strong price surge in March. While BNB, the native token of the BSC, remained mostly flat, down 5% quarter-over-quarter (QoQ), the network’s key metrics showed both positive and negative trends. Binance Smart Chain Revenue Plunges According to a recent report by market intelligence platform Messari, the chain’s revenue, which measures the total fees collected by the network, fell 28% QoQ to $48.1 million during Q2, although it was only down 8% year-over-year from $52.4 million in Q2 2023. According to the report, this decline was largely driven by the decrease in BNB’s price, as revenue in the network’s native token terms declined 51% sequentially from 165,100 BNB to 81,300 BNB. Related Reading: Analyst Says ETH Price Will Struggle As Spot Ethereum ETFs Expectations Crash The report also highlighted a decline in network activity, with average daily transactions decreasing 10% QoQ to 3.7 million and average daily active addresses dropping 18% QoQ to 1.1 million. This trend was not isolated ..
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