BNB Chain, the blockchain linked to Binance, has achieved a significant milestone by surpassing Solana in daily fees. On February 13, 2025, BNB Chain generated over $5.8 million in daily fees, outpacing Solana’s $3.3 million and surpassing Ethereum by more than five times. This remarkable feat marks the first time since October 2024 that a blockchain other than Ethereum or Solana has led the industry in daily fees.
Key Points:
- BNB Chain leads all blockchains in daily fees, surpassing Solana and Ethereum.
- PancakeSwap, a DEX on BNB Chain, is a key contributor to this surge.
- BNB Chain’s activity, including meme coins, is driving new blockchain milestones.
BNB Chain Takes the Lead
The surge in BNB Chain’s daily fees is a clear indication of its growing dominance in the blockchain space. This achievement is especially impressive when considering that Ethereum and Solana have long been the dominant players. The last time a blockchain other than Ethereum or Solana took the lead in daily fees was Halloween 2024, when Bitcoin had an exceptional day.
BNB Chain’s rise to the top is not just a coincidence. A significant portion of the daily fees comes from PancakeSwap, a decentralized exchange (DEX) that operates across multiple blockchains but generates the most trading volume on BNB Chain. On February 13, PancakeSwap outperformed all DEXs across all chains in terms of trading volume, making it a major contributor to BNB Chain’s success.
Meme Coins and Rising Activity
While BNB Chain’s recent rise in fees is noteworthy, it is not solely driven by PancakeSwap. The chain has seen a surge in activity, including the creation of meme coins. This is partly due to the recent excitement surrounding Binance co-founder Changpeng Zhao’s dog, Broccoli. Zhao’s dog meme coin sparked a wave of new meme coins, contributing to increased activity on BNB Chain. The CZ dog meme hasn’t even been live for a day, but the volatility has been crazy. Last morning we wrote about it at a $70 mil market cap, and it surged to $280 mil last night.
However, Zhao clarified that he did not intend to launch any meme coins of his own. Despite this, the meme coin trend has taken off, and BNB Chain has become a key player in the growing meme ecosystem. This is not surprising, as meme coins have become one of the most popular use cases in the crypto space over the past year. Even major figures like US President Donald Trump have backed meme tokens, adding to their global appeal.
BNB Chain’s Rise in Active Addresses
BNB Chain’s rising activity extends beyond meme coins. According to Nansen data, BNB Chain has surpassed both Tron and Ethereum in daily active addresses, securing second place in that category. While the chain currently boasts almost 6 million active addresses over the past week, it still lags behind Solana’s impressive 35.8 million active addresses. Nonetheless, BNB Chain’s rapid rise in this category shows its growing user base and adoption.
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The TST Token Phenomenon
One of the key drivers behind BNB Chain’s recent surge in daily fees was the rise and fall of the BNB-based “Test” (TST) token. Initially created as a tutorial token for BNB Chain’s meme coin launchpad, Four.Meme, TST quickly became a target for speculative traders. Once the token’s name caught attention, its market cap skyrocketed to $500 million before it eventually crashed.
Despite its lack of intrinsic value, meme coins like TST have become a major part of the crypto ecosystem. They continue to drive blockchain activity and fees, with Solana having long been the leader in meme coin trading. BNB Chain, however, has made it clear that it plans to support the meme ecosystem in its 2025 roadmap, ensuring its continued growth in this space.
BNB’s Growing Influence
The success of BNB Chain has also been reflected in the price of its native token, BNB. Over the past week, BNB has risen by 15%, further solidifying its position as a major player in the cryptocurrency market. Currently priced at $665.39, BNB recently overtook Solana’s SOL to become the fifth-largest cryptocurrency by market capitalization.
BNB is not only used for transaction fees on the BNB Chain but also within Binance’s exchange ecosystem. This multi-use functionality has contributed to the token’s growing value and influence in the broader crypto market.
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Final Thoughts
BNB Chain’s impressive performance in daily fees is a testament to its growing influence in the blockchain space. By surpassing Solana and Ethereum, the chain has proven that it is a force to be reckoned with. A combination of PancakeSwap’s success, rising activity, and the meme coin trend has propelled BNB Chain to new heights.
As BNB Chain continues to innovate and support new trends like meme coins, it is well-positioned to challenge the dominance of other blockchains. With the rise of BNB and the increasing adoption of its ecosystem, the future of BNB Chain looks bright. It will be exciting to see how this momentum continues to build, especially as the blockchain space evolves.
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