Binance Smart Chain Sees Unique Addresses Milestone Amid Growing Activity

Binance smart chain is at the forefront of the recovery charge as the crypto market is attempting to bounce back from recent disruptions.

The network just celebrated a key milestone pertaining to address growth. The Binance smart chain recently surpassed 500 million unique active addresses for the first time in history.

This milestone confirms that the network has been experiencing elevated activity.

Speaking of network activity, elevated address growth should technically yield more transactions.

Interestingly, transaction data from DeFiLlama confirmed a substantial surge in transaction activity.

Daily transactions on the Binance smart chain surged to 5.75 million transactions in the last 24 hours.

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This was the highest daily transactions count that the network has achieved in the last 12 months.

The last time that BSC’s daily transaction count was higher was at the end of December 2024.

Nevertheless, these observations signal that the network’s efforts are paying off.

Binance Smart Chain Hypes Up Development With Newly Launched Meme Coin

The growing transaction activity on the BNB chain was observed just as the network has been aggressively pushing for more development.

The network aims to compete more effectively with the likes of Solana, hence its recent push towards meme coins.

Meme coins have been the key growth driver for Solana and Binance aims to take advantage of that with its latest meme coin focus.

Hype around Binance meme coins has been building up particularly around the TST meme coin.

The TST meme coin rallied by over 480% in the last 24 hours indicating that the Binance launch paved the way for robust demand.

This performance might the be the reason for the latest surge in network activity and Binance wants to encourage more meme coin development on the BSC.

The TST meme coin launch triggered mixed reactions, with some calling the listing process into question.

BNB Price Bounces Back Strong After its Recent Crash

BNB just concluded one of its most volatile weeks in recent times. BNB price crashed to levels last seen in November 2024.

It bottomed out at $500 on Monday but it has since then bounced back by 23% to its $624 press time price tag.

One of the reasons for the sharp recovery was the fact that it was deeply oversold according to the RSI.

In addition, the surge in network activity alongside growing interest in Binance meme coins may have influenced BNB price action.

BNB volume was up by 143% to $2.13 billion in the last 24 hours.

Meanwhile, demand in the derivatives segment was also strong with open interest surging by 7.32% during the same period.

Options volumes surged by 173.48% indicating sizable uptick in long courtesy of the bullish confidence.

However, this also raises concerns over potential liquidations if price crashes.

BNB price action may maintain the bullish momentum if Binance Smart chain’s gamble with the meme coins pays off.