- In April, BNB was the blockchain with the highest number of active addresses.
- Over the past 30 days, the blockchain’s fees and earnings have remained fairly stable.
BNB chain [BNB] outperformed other cryptos, including Ethereum [ETH] and Solana [SOL] by a huge margin last month.
Nansen’s tweet revealed that BNB was the blockchain with the most active addresses in April. According to the tweet, BNB had nearly 11 million active users, while SOL and ETH had 5.1 million and 4.9 million, respectively.
Which chains had the most active addresses in the chain in April and how did they compare to March?
BNB chain: 10.9 million (-11%)
Solana: 5.1 million (-12%)
Ethereum: 4.9 million (-7.9%)
Polygon: 4.2 million (+6%)
Arbitrum: 2.4 million (+7.8%)And what did these addresses do?
Let’s take a look inside the chain… pic.twitter.com/mjrBPgbmif
— Nansen
(@nansen_ai) May 3, 2023
Is your wallet green? Check the BNB Profit Calculator
Over the past 30 days, the blockchain’s fees and earnings have also remained fairly stable. Interestingly, BNB’s GameFi ecosystem made a significant contribution to this achievement last month.
Source: Token Terminal
The role of BNB GameFi cannot be ignored
Meanwhile, BNB recently posted a tweet pointing to an interesting event. The tweet stated that 20 gaming dApps on BNB Chain account for 9.17% of average daily transactions on BNB Chain.
Did you know that 20 gaming dApps on BNB Chain account for 9.17% of average daily transactions on BNB Chain?
Find out more with 10 interesting facts about the state of gaming dApps on BNB Chain. https://t.co/rrEkKtLupO
— BNB Chain (@BNBCHAIN) May 4, 2023
Furthermore, the gaming dApps have also contributed to it BNB‘s increasing active addresses. Gameta registered the highest number of users of any gaming dApp, with 123570 MAUs (Monthly Active Users), representing 27.5% of the total number of gaming users in this list.
Source: DappBay
Coming back to transactions, SecondLive recorded the highest number of transactions for any gaming dApp on BNB Chain in the past 30 days.
While these datasets suggested growth, Dune’s chart told a different story. BNB’s weekly average users in gaming have seen a slight drop recently.
Source: Dune
Well, new dApps like Gaimin, PlayZap, Mystic Treasures and Ultimate Champions have been listed on BNB Chain in the recent past. So things may change in the future.
Considering the increasing popularity of web3 gaming, the possibility of a boom is in BNB‘s GameFi space cannot be ignored.
A similar trend was noticed this month
BNB’s performance in April seemed to continue in May as well. Santiment’s data showed daily active addresses were significantly high, which was a positive sign.
The token also continued to be popular in the crypto space, as evidenced by its social volume. However, BNB’s development activity fell last week, which was a negative sign overall.
Source: Sentiment
BNB price took a sideways path
While BNB Chain was ahead of ETH and other competitors in terms of active users, investors weren’t thrilled with the token’s price action.
According to CoinMarketCap, the price of BNB has not changed much in recent days. At the time of writing, it was trading at $326.18 with a market cap of over $50 billion.
Source: TradingView
Read BNB’s price prediction 2023-24
Nevertheless, investors may want to wait before deciding on BNB.
The The Money Flow Index (MFI) indicator was registering an increase at press time and broke above the neutral mark.
The Exponential Moving Average (EMA) ribbon suggested that the bulls led the market as the 20-day EMA was above the 55-day EMA. Finally, BNB’s MACD was concerning as it showed a bearish crossover.
