The Binance Smart Chain recorded more transactions per day than the bitcoin and Ethereum blockchains combined. On November 16, the daily transaction volume on Binance Smart Chain reached 14.7 million.
Ethereum recorded 1.3 million transactions on November 16, and the record value on the Ethereum blockchain was recorded at 1.7 million trx. In the bitcoin blockchain, the daily number of transactions was only 301,103 on November 16.
The previous record of Binance blockchain, 13.1 million transactions, was set on July 29.
Furthermore, on November 16, the record number of new addresses was registered on the Binance Smart Chain (276 446).
The reason for the growth of transactions in the Binance Smart Chain remains its tariff policy. Low transaction fees attract users and DeFi founders. With near-zero fees, Binance Smart Chain has quickly grown into one of the most popular networks for decentralized finance protocols, and the Binance Smart Chain-powered marketplace, PancakeSwap, boasts currently over $17 billion in locked-in funds.
““In the last two weeks, daily BSC blockchain transactions have averaged well over 10 million txs per day. When compared to other blockchains, BSC currently boasts an ecosystem with the most number of transactions ever recorded at the lowest possible fees,” said BSC Ecosystem Coordinator Sami Karim.