BNB Becomes the Most Active Blockchain in the Past Twenty-four Hours Ignoring Binance FUD

The widespread investor anxiety caused by the FUD around Binance has driven the withdrawal volume to a staggering $5 billion.

A comparable number of withdrawals would have been terrible for any exchange other than Binance. Nonetheless, there is always a silver lining: when the FUD arose, BNB’s network activity rise to uncharacteristically high levels.

According to Coin98Analytics, BNB Chain has the most number of daily active users on the blockchain. With 1,1 million users, BNB surpassed all other networks to take the top spot, surpassing Ethereum in second place with 402,000 members.

This significant increase in the number of users might be directly attributed to the recent action around the exchange’s withdrawal volume. At the time of publication, the withdrawal volume and outflow of cash from Binance had been restored to normal levels.

In addition to the large withdrawal volume, a short-term surge in the NFT business has spurred BNB’s activities. In the previous 30 days, the volume of several NFT markets has shown a short-term rise. Regarding the Ethereum network, the large number of active users is not out of the ordinary and remains within the norm.

According to several on-chain indicators, the number of active Cardano blockchain users has reached 70,000, which officially places it in the fifth position. Nonetheless, the network has not even gotten it into the top ten on Coin98’s ranking, which has caused ADA investors some anxiety.

Cardano’s absence from the top may not have been purposeful, since the data collection technology employed by Coin98 may not have been able to handle the same kind of data on ADA owing to changes in blockchain design.

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