BNB Chain’s DeFi Ecosystem Grew by 58% in 2024

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In 2024, the Total Value Locked (TVL) in the BNB Chain ecosystem rose by 58.2% to $5.5 billion, while the number of unique addresses grew by 17.7% to 486 million, according to the developers.

Key Achievements:

  • Consolidation of the network through the merger of BNB Beacon Chain, BNB Smart Chain, and BNB Greenfield.
  • Enhancements to opBNB and BNB Greenfield.
  • Creation of a platform for AI-driven applications.
  • Launch of the Gas-Free Carnival initiative with stablecoins.

The Gas-Free Carnival eliminated gas fees for depositing or withdrawing USDT, FDUSD, and USDC on BNB Chain and opBNB.

Security and Performance: Developers highlighted a 67% reduction in losses from cybersecurity incidents, totaling $53 million, and a 66% decrease in the number of such events.

  • Daily Active Users:
    • opBNB: 4.7 million average daily users.
    • BNB Chain: 1.12 million average daily users.
  • Transactions:
    • BNB Chain: 4 million transactions per day.
    • opBNB: 7.1 million transactions per day.
  • Average Fees:
    • BNB Chain: $0.03.
    • opBNB: $0.001.

opBNB reportedly supports a gas limit of 100 million per second, achieving throughput of up to 4600 transactions per second (TPS), surpassing most L2 solutions on Ethereum.

Cultural Development: The team launched the Meme Innovation Battle, a $1 million initiative to promote meme culture.

Market Impact: On December 4, the price of BNB hit an all-time high (ATH) of $782.79 following the launch of Springboard, a platform for issuing meme coins on BNB Chain by PancakeSwap.