The level of BNBchain activity has not changed. But potentially dangerous dApps and pessimistic sentiment might slow BNB’s development.
The SEC lawsuit against the Binance exchange had a significant effect on numerous cryptocurrencies, including Binance’s native BNB currency. However, BNB chain activity remained robust despite the instability and uncertainty.
BNB reports that as of late, there were 4.02 million people actively connected to the network. Over the last week, these engaged users have conducted a total of $3.67 million in transactions. BNB’s inexpensive petrol prices of 0.00037 BNB were a key factor in keeping consumers on the network.
Despite the network’s recent successes, malicious decentralized applications (dApps) pose a threat to BNBchain’s protocol development.
DappBay’s Red Alarm has warned BNB about over 35 potentially harmful dApps this week. Unsafe dApps that might put users in danger include -Staker Cafe, Okxo, Pepe Girl, Shiba Reward, and Maker Lending.
DappBay’s Red Alarm has found over 35 potentially harmful decentralized applications (dApps) on the BNB network, which may have far-reaching consequences for BNB. First, the emergence of hazardous dApps may erode consumers’ trust and confidence in the BNB ecosystem. This may cause consumers to be more wary when interacting with dApps, which might slow their widespread adoption.
The token value of BNB may also fluctuate as a result of investor mood changes brought on by the publicity surrounding dangerous dApps. Furthermore, if these dApps gain popularity, regulators may start paying closer attention, which might hurt BNB’s position.
There were some bright spots for the protocol in the previous quarter, despite the growth of potentially harmful decentralized applications (dApps) on the BNB chain. The statistics from BNB showed a dramatic increase in market share, from 38% at the beginning of Q2 to 45% at the conclusion of the quarter. BNB Chain’s superiority and the confidence of its creators and users were on full display in this performance.