BNB Chain Surpasses Solana in Active Users, Hits Record High

September marked a significant shift in the blockchain landscape as BNB Chain recorded 52.5 million active addresses, surpassing NEAR Protocol’s 51.8 million and dethroning Solana’s 45.8 million for the first time since August 2024. This represents a notable achievement for the BNB Chain ecosystem, which had previously ceded the top position to Solana. The renewed momentum enabled BNB Chain to not only lead in user activity but also surpass Solana in terms of daily chain fees, maintaining this lead for three consecutive days during the month.

The growth wasn’t limited to BNB Chain’s Layer 1 network, which recorded a 22% increase in active addresses over the past month. The Layer 2 scaling solution OpBNB, built on the OP Stack, saw an even more impressive 66.4% increase during the same period. This dual-layer growth indicates broad-based ecosystem expansion rather than isolated activity spikes. Analyst Darkfost weighed in on the development, stating, “All of this puts it ahead of chains like Base, Solana, or even Ethereum. The interest is clearly there right now.”

The primary catalyst behind BNB Chain’s resurgence appears to be the hype surrounding Aster, which has sparked massive user engagement and boosted on-chain activity across the ecosystem. Data compiled by DefiLlama reveals that on October 4th, Aster’s total value locked reached $2.34 billion, representing a staggering 570% increase from its previous level of $347 million. This explosive growth indicates that users are increasingly leveraging Aster for decentralized trading and yield farming activities.

The sharp increase in Aster’s TVL demonstrates the protocol’s growing importance within the BNB Chain ecosystem and the broader DeFi landscape. The 570% surge in locked value suggests not only new capital entering the ecosystem but also existing users increasing their participation in decentralized trading and yield farming opportunities. This level of growth in such a short timeframe underscores the protocol’s ability to capture market attention and drive meaningful user engagement.

The increased demand for the BNB Chain ecosystem, combined with shrinking supply and growing on-chain liquidity, has driven the BNB token to record highs. BNB hit a new peak of over $1,189 this week, reflecting the positive momentum flowing through the entire ecosystem. This price movement represents a significant achievement for the native token, which has benefited from both fundamental ecosystem growth and favorable market conditions.

CryptoQuant analysis found that the futures market is showing renewed buying strength as Taker Buy dominance returns. The Taker Cumulative Volume Delta, which tracks the net difference between market buy and sell volumes over 90 days, is now positive and rising. Historically, a rising 90-day CVD indicates a Taker Buy-dominant phase, while a falling or negative CVD points to seller dominance. The current trend suggests strong buying pressure in BNB futures, which supports the possibility of further short-term gains.

However, the analysis also notes that overly aggressive long positions in the derivatives market can quickly trigger corrections. This cautionary note highlights the need for balanced market participation despite the current bullish indicators. The combination of strong ecosystem fundamentals, growing user adoption, and positive futures market data creates a compelling narrative for BNB’s continued performance, though market participants should remain aware of potential volatility risks.