The number of unique addresses on the Binance Smart Chain has skyrocketed to over 7 million.
To date, about 2 times more daily transfer volumes go through the Binance blockchain compared to Ethereum, amid growing fees on Vitalik Buterin’s network.
Note that this week, transaction fees in ETH have reached values in the area above $ 40, at some point exceeding those of Bitcoin.
Against this background, the ether miners have already earned $ 1.26 billion for incomplete February – an absolute record. Moreover, more than half of the profits come from transaction fees.
The sharp rise in the cost of transfers in the Ethereum network against the background of the ongoing hype of decentralized finance (DeFi) has become a catalyst for the growth in demand for Binance Smart Chain – users and protocols come to this network in search of better working conditions.
One of the striking examples of recent days has been the actual decision of the decentralized exchange aggregator and the 1inch.exchange protocol to switch from Ethereum to BSC – 10 million 1INCH tokens have been transferred to the Binance blockchain.
🦄 Crossing the hell of burned #Ethereum lands our hero stumbles upon the mysterious yellow portal. No one knows what secrets it holds, but the intense heat from molten #shitcoins surging right from the #blockchain depths forced #1inch unicorn to make a step towards the unknown.. pic.twitter.com/B9tnKh90bz
— 1inch.exchange (@1inchExchange) February 25, 2021
“The miners essentially killed the Ethereum network without raising the gas limit,” the developers of 1inch. exchange said.
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