The altcoin market has faced significant challenges during the 2023–2026 cycle, but data shows that BNB Chain (BNB) has remained relatively resilient compared to other major digital assets.
As of April 28, BNB trades approximately 10% below its previous all-time high, a stronger performance than most top altcoins by market capitalization.
BNB Performance in Context
Based on market data:
BNB is down around 10% from its all-time high.
Ethereum (ETH) has declined 63% from its peak.
Solana (SOL) is down 40%.
XRP and Tron (TRX) have risen 19% and 49%, respectively, from their previous highs.
Price comparisons use benchmarks from peaks recorded mainly in May and November 2021.
Other assets, including XRP and TRX, have also surpassed previous cycle highs during the current period.
Ecosystem Activity on BNB Chain
Ecosystem metrics for BNB Chain reflect continued activity across multiple sectors:
Daily Transactions: BNB Chain processes approximately 4 million transactions daily, according to Messari data. For comparison, Ethereum processes around 1 million daily transactions, XRP Ledger about 1.8 million, Tron 5.5 million, and Solana significantly higher at 54 million (non-vote transactions).
Daily Active Addresses: BNB Chain records over 1.1 million daily active addresses, placing it behind Tron (2.4 million) and Solana (3.7 million), but ahead of Ethereum (384,800).
DApp Count: According to DappRadar, BNB Chain supports 5,686 decentralized applications (DApps), slightly higher than Ethereum’s 4,987.
DeFi Total Value Locked (TVL): As of April 28, BNB Chain ranks third in DeFi TVL with approximately $5.8 billion, behind Ethereum ($50.5 billion) and Solana ($8 billion), based on DefiLlama data.
Supply Metrics and Circulation
According to Messari, BNB’s circulating supply is 96.51% of its fully diluted supply. This is comparable to Ethereum (99.93%) and Tron (99.96%) and higher than Solana (86.33%) and XRP (58.33%), suggesting a relatively lower future dilution risk.
Revenue Performance
Revenue data shows that while BNB Chain remains active, fee generation trails some major competitors:
In 2024, BNB Chain generated approximately $194 million in transaction fees, according to CoinGecko.
In the past 30 days (as of late April 2025), BNB Chain recorded approximately $17.1 million in transaction fees, based on Messari data.
For comparison, Tron led with $272 million in fees over the same recent period, followed by Solana ($34.7 million) and Ethereum ($20.8 million).
BNB Chain’s price resilience, active ecosystem metrics, and relatively high circulating supply indicate continued engagement within its network during the current cycle. However, revenue generation compared to other major blockchains remains an area of difference.
The altcoin market continues to evolve, and BNB Chain’s activity across transactions, DApps, and DeFi remains notable within broader market trends, according to Cointelegraph.
