The BNB Chain exhibits strong performance in the first quarter despite a 15% drop in market capitalization: Messari
The BNB Chain performed exceptionally in the first quarter in terms of revenue and on-chain metrics, even with its market value declining by about 15%.
According to a new report by Messari, the BNB Chain achieved strong revenue performance in the first quarter of 2025, with network earnings rising by 58.1% quarter-over-quarter to $70.8 million. This increase is primarily attributed to a 122.6% rise in transaction fees between wallets, which accounted for 17.4% of total revenue, surpassing decentralized finance (DeFi). The decentralized finance category contributed a modest 8.4% of total revenue, with a growth of 7.6% quarter-over-quarter, while stablecoin-related activities accounted for 5.2% of revenue, increasing by 23.4% quarter-over-quarter, but with a lower revenue share of 5.2%.
The BNB Chain exhibits strong performance in the first quarter despite a 15% drop in market capitalization: Messari - 5
Despite the notable revenue growth, the market capitalization of BNB dropped by 14.8% during the quarter, reaching $86.2 billion. However, BNB maintained its position as the fourth-largest volatile crypto asset by market capitalization.
Regarding BNB Smart Chain activity, the BNB Smart Chain saw a 20.9% increase in average daily transactions quarter-over-quarter, reaching 4.9 million transactions, while daily active addresses jumped by 26.4% to 1.2 million. Stablecoins continued to dominate, accounting for nearly 45% of total transactions at a rate of 1.2 million daily transactions, and wallet transfers increased by 50.9% to reach 835,000 daily transactions. The total value locked in the BNB Smart Chain rose by 14.7% in terms of BNB value.
The BNB Chain exhibits strong performance in the first quarter despite a 15% drop in market capitalization: Messari - 6
Trading volume on decentralized cryptocurrency exchanges increased by 79.3% quarter-over-quarter, with an average of $2.3 billion in daily trading, with PancakeSwap representing over 90% of total activity on decentralized cryptocurrency exchanges on the chain.
Messari also noted the success of the Pascal hard fork launch, which introduced key technical upgrades such as smart contract wallets EIP-7702, support for batch transactions, and encryption improvements. Additionally, the BNB Good Will Alliance, launched in March, helped reduce sandwich attacks by over 90% through coordinated efforts to protect MEV.
This guide is simplified. We review four distinctive tokens with real updates and reasons worth following. Sandwich attacks manipulated 35.5% of BNB Smart Chain blocks in November, presenting a new way to reward users. Solana is making headlines by announcing its Canadian ETF. Dogecoin maintains its stability with real trading volume and actual usage. Cardano is making gradual progress with strong growth indicators this month. Whether you're an active trader or someone looking to own some tokens, this list provides a clear insight into what is currently succeeding. Let’s take a closer look at the top cryptocurrency projects right now and their significance.
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