BNB flips XRP while BNB Chain prepares mainnet upgrade
BNB will push a new mainnet update for its BNB Smart Chain in August. BNB also flipped XRP to become the fourth largest crypto.
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BNB Chain’s fees and revenue have been declining for several weeks.
Though BNB flipped XRP, the former’s market indicators were not bullish.
BNB Chain [BNB] has witnessed a decline in its gas amount over the last few months. The decline was also reflected in its captured value, which followed a similar falling trend. However, despite this, BNB managed to flip Ripple [XRP] to become the fourth largest crypto by market capitalization.
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Will BNB Chain’s update change the scenario?
Dune’s data revealed that BNB Smart Chain’s gas amount has been on a declining trend. As activity declined, the blockchain’s captured value declined as well. For instance, BNB’s fees and revenue plummeted.
Things in the DeFi space were also concerning as its TVL went down. The decline in usage was also revealed by its active addresses and transactions, which also sank.
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BNB Chain recently announced a new update for its BNB Smart Chain, which can have a positive impact on the blockchain’s declining metrics. The blockchain announced the release of version 1.2.9 for the BSC mainnet.
The release will introduce both Plato and Hertz (Berlin, London) hard forks
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