Key Points
- Binance’s CZ highlighted that BNB Chain is the top 7-day gainer in trading volume.
- BNB Chain’s weekly change is over 66%, with more than $3.7 billion in 24h-volume.
Binance’s founder, CZ, just announced via X that the BNB Chain is the leader in weekly trading volume, citing data from DeFi Llama. The chain’s activity intensified following the recent launch of the TST token on the chain via the four.meme platform.
The announcement came after the BNB Chain got important updates for traffic spikes yesterday.
BNB Chain, Leader in 7-Day Trading Volume
According to data from DeFi Llama, the BNB Chain recorded a surge of over 66% in weekly volume, nearing $31.2 billion in the past seven days.
Also, the 24-hour trading volume on the chain is over $3.7 billion, according to the same data.
Solana is listed in the second spot, with almost $28.9 billion in transaction volume in the past week, and Ethereum takes the third position with over $15.2 billion in trading volume over the past seven days.
Just like CZ noted in his X post, the intense activity on the BNB Chain debuted following the launch of TST memecoin, and culminated after Binance’s founder released the name and photo of his dog, Broccoli, leading to the creation of multiple memecoins.
BNB Chain’s Surging Activity
On February 6, CZ revealed in a post via X that the team at BNB Chain made a video tutorial on how to launch memecoins via the four.meme platform, creating a test coin called TST. The memecoin quickly reached $40 million in market cap as the Chinese KOL community began trading it.
TST is still up by over 344% since launch, having a market cap of over $99 million. TST reached its ATH on February 9, at over $498 million in market cap.
The activity on the BNB Chain spiked again as CZ announced the release of his dog’s photo and name, to allow memecoin creation on the chain.
On February 13 when he posted the info, most dog-themed coins recorded price spikes. The next day, on February 14, we reported that a crypto sniper sniped most of the Broccoli-inspired memecoins, making over 27.8 million USDT in profit.
CZ also mentioned that the high activity on the BNB Chain turned out to be a stress test, responding to a user who also acknowledged this, saying that the chain handled everything very well.
Yesterday, CZ shared a post, revealing to users that two updates went into the BNB Chain.
BNB Chain – Optimization for Traffic Spikes
The official blog post regarding BSC’s optimization for traffic spikes addresses better handling the traffic surges on the chain. The notes addressed the following:
- Main Issues
- Cause
- Solution
The notes reveal that the team observed that during high-traffic periods, many transactions weren’t being included in blocks in a timely manner. This translated into the fact that even users who boosted their transaction fees to expedite transactions weren’t getting the necessary priority.
The root cause of this issue was that validator nodes weren’t always prioritizing the blocks with the higher overall value.
BNB Chain’s current design prioritizes getting all transactions on-chain as quickly as possible, minimizing the average wait in the transaction pool. This approach usually works, but it’s not optimal for the fast-paced, high-stakes world of memecoin trading.
When validators reach the block limit, they cease accepting new bids from builders, even if the new bids contain higher block values.
This issue reportedly has two solutions, according to the official blog post:
- Prioritizing time-sensitive transactions
- Enhancing block selection
Optimizing the BNB Chain approaches in case of traffic spikes will turn out useful, especially since CZ jh9inted at more potential surges in activity.
He said that after the launch of the TST token, we can expect a new video tutorial on how to create AI agents on the chain.
