BNB Chain Defies Market Slump with Robust Q1 Growth: Messari Report

BNB Chain just flexed its resilience—posting strong Q1 metrics despite a 15% haircut in market cap. Transaction volume up, DeFi TVL steady, and developer activity surging. Who said bear markets kill momentum?

Key stats: Daily active addresses hit 1.4M (up 29% QoQ), while stablecoin market cap ballooned to $4.6B. Even the ’regulated’ chains wish they had these numbers.

Bottom line: While TradFi institutions still debate crypto’s viability, BNB Chain’s building—and delivering—through the noise. Maybe Wall Street should take notes instead of charging 2% for index funds.

Despite the impressive revenue growth, BNB’s market cap declined by 14.8% over the quarter, ending at $86.2 billion. Still, BNB maintained its rank as the fourth-largest non-stablecoin crypto asset by market cap.

As far as on-chain activity is concerned, BNB Smart Chain saw average daily transactions climb 20.9% QoQ to 4.9 million, while daily active addresses jumped 26.4% to 1.2 million. Stablecoins continued to dominate, making up roughly 45% of all transactions at 1.2 million per day, and wallet-to-wallet transfers surged 50.9% to 835,000 daily. Total value locked in BNB Smart Chain ROSE 14.7% in BNB terms.

DEX volume surged 79.3% QoQ, averaging $2.3 billion in daily trading, with PancakeSwap accounting for over 90% of the chain’s total DEX activity.

Messari also noted the successful rollout of the Pascal hard fork, which introduced key technical upgrades such as EIP-7702 smart contract wallets, batch transaction support, and improved cryptography. Additionally, the BNB Good Will Alliance, launched in March, helped slash sandwich attacks by more than 90% through coordinated MEV protection efforts.