BNB Chain adapts to urgent memecoin transactions

BNB Chain has introduced a new optimization for the BSC network, as speculation with memecoins has led to an increase in gas fees and network congestion.

According to the project's website, previously BSC validators stopped processing bids once the block limit was reached, and new blocks were formed every three seconds. However, during peak traffic periods, time-sensitive transactions - such as memecoin swaps - often failed to enter a block.

"This process will allow validators to gather more bids, improving block formation, especially during times of high network activity. In other words, transactions interacting with memecoins will receive higher priority," stated BNB Chain.

Price surge and memecoin activity

The recent price surge of BNB has been accompanied by a record increase in gas fees on the network. In the last week, BNB Chain users have spent nearly 15 million dollars on transaction fees, more than double the 7 million dollars of Ethereum and only surpassed by the 29 million of Solana, according to data from Nansen. Gas fees on BNB Chain increased by 388% compared to the previous period.

"BSC fees have skyrocketed by 114% in the last week, while networks like Solana, Ethereum, and Base have experienced negative growth," noted Aurélie Barthere, an analyst at Nansen. She suggested that a possible catalyst for this growth was the recent 60-day pause in Binance's legal battle with the SEC.

Additionally, network activity was bolstered by dog-inspired memecoins from Binance founder Changpeng "CZ" Zhao, Broccoli. This surge has also boosted the popularity of the decentralized exchange PancakeSwap.

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