BNB Chain on-chain activity bucks bear market downtrend in Q4: Messari

The Binance-native blockchain BNB Chain has continued to show steady activity growth in the fourth quarter of 2022 despite the broader crypto bear market according to recent research.

In a “State of BNB Chain Q4 2022” 

However, despite the uptick in user activity, financial performance was down. Average transaction fees decreased, which contributed to less revenue generation, it noted.

Network revenue declined 10% for the quarter but Messari stated that the fundamentals were still positive, concluding that:

“Ultimately, it was a positive sign that the catalysts for user growth came on the heels of a foundational user base and a more favorable valuation for BNB Chain’s network, especially after the FTX drama unfolded during Q4.”

Looking ahead, Trautman said he expects BNB Chain to be able to continue its growth, including adding scaling solutions and boosting throughput.

The Binance native token, BNB, has dropped 1.2% over the past 24 hours in a fall to $326, according to Cointelegraph. The token has made 25% over the past month but remains down 52.5% from its May 2021 all-time high of $686.