BNB Chain gears up for the future with these new dApps

August 22, 2023

By Dipayan Mitra

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• The newly launched dapps fall under multiple categories, such as gaming, social, and DeFi.

• BNB’s social engagement increased, but price action remained bearish.

Over the last few days, BNB Chain’s [BNB] network activity has dropped drastically. It was interesting to see that despite a drop in activity, the blockchain’s captured value spiked sharply on 18 August. However, BNB Chain recently onboarded multiple new dApps, which can help increase both its value and network activity over the following months. 

BNB Chain’s usage is dropping

Artemis’ data revealed that BNB Chain’s daily transactions have been dropping for quite a few weeks now. A major reason behind the drop was the decline in the blockchain’s daily active addresses, which went below the 1 million mark.

It was interesting to see that BNB was not the only blockchain that has been witnessing such a decline. As per Token Terminal, Tron [TRX], the blockchain with the most active addresses was also experiencing a similar decline since June 2023. 

Despite a drop in network activity, BNB Chain’s captured value surprisingly went up. The blockchain fees and revenue both registered a spike on 18 August, which was encouraging.

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