BNB Chain processed 24 million swap transactions, which represented 77% of the day's total activity.
BNB News
BNB Smart Chain achieved a landmark milestone on Oct. 8, consuming 5 trillion gas units within 24 hours. The network processed 24 million swap transactions, which represented 77% of total activity that day.
The achievement represents a significant days for the blockchain, highlighting BSC's growing position as a leading platform for decentralized finance and on-chain trading. Network transactions reached 31.31 million in 24 hours, marking a 19% increase from the previous day and a 719% surge compared to the same period last year.
Recent technical upgrades have driven BSC's performance gains. The Maxwell and Lorentz hardforks doubled throughput to 100 million gas per second while reducing block times to 750 milliseconds, enabling the network to process large trading volumes with near-instant finality.
DeFi ecosystems on BSC continue to thrive. PancakeSwap recorded nearly $80 billion in trading volume throughout September, reaching levels not seen since late 2021. Stablecoin supply on the network reached record highs, supporting increased demand for liquidity and trading activity.
BSC recorded daily decentralized exchange volumes exceeding $6 billion and network fees surpassing $5.5 million in early October, positioning the network at the forefront among major blockchains.
The ecosystem-wide adoption of a 0.05 gwei standard gas price has driven BSC's increased usage. Major partners, including Binance, Trust Wallet, and Aster, established this as the default setting, reducing average transaction costs to approximately $0.005 and enhancing accessibility for retail and institutional users.
BNB (BNB) has surged 80% over the past quarter, propelling it to become the third-largest cryptocurrency by market capitalization. Institutional interest continues to grow, with major holders accumulating substantial positions and signaling confidence in BSC's long-term trajectory.
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