- BNB Chain reported a strong Q1 in 2025, with a 58.1% increase in revenue and notable growth in wallet-to-wallet transaction fees.
- Despite a 15% dip in market cap, the network saw significant growth in daily transactions and DEX volumes, highlighting its resilience.
BNB Chain has delivered a strong performance in Q1 2025, showcasing impressive revenue growth and on-chain activity, despite facing a 15% dip in its market cap. According to a recent report by Messari, BNB’s network earnings surged by 58.1% quarter-over-quarter, reaching a remarkable $70.8 million. This growth was primarily driven by a significant 122.6% increase in wallet-to-wallet transaction fees, which now account for 17.4% of total revenue. In comparison, decentralized finance (DeFi) activities contributed a modest 8.4% of the total, growing by 7.6% quarter-over-quarter. Stablecoin-related activities, despite accounting for a smaller portion of the revenue (5.2%), saw a robust 23.4% increase from the previous quarter.
Despite these stellar revenue figures, BNB’s market capitalization fell by 14.8%, ending Q1 at $86.2 billion. Nevertheless, BNB managed to maintain its position as the fourth-largest non-stablecoin cryptocurrency by market cap. This decline underscores the volatility of the broader crypto market, but BNB’s underlying strength remains evident in its performance metrics.
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On-chain metrics also highlight BNB Chain’s impressive growth. The average daily transactions on BNB Smart Chain increased by 20.9% from the previous quarter, reaching 4.9 million transactions. Daily active addresses grew by 26.4%, totaling 1.2 million. Notably, stablecoins continued to dominate the network, accounting for roughly 45% of all transactions, while wallet-to-wallet transfers surged by 50.9%.
Another highlight of BNB Chain’s Q1 performance was the significant growth in decentralized exchange (DEX) volumes, with a 79.3% quarter-over-quarter increase, averaging $2.3 billion in daily trading. PancakeSwap, the chain’s leading decentralized exchange, represented over 90% of the total DEX activity.
BNB Chain also introduced the Pascal hard fork in March 2025, which brought technical advancements such as EIP-7702 smart contract wallets, batch transaction support, and enhanced cryptography. Additionally, the BNB Good Will Alliance, launched to combat malicious attacks, successfully reduced sandwich attacks by more than 90%, further enhancing the security and stability of the network.
Despite the market’s fluctuations, BNB Chain’s strong performance in Q1 demonstrates its resilience and continued innovation in the cryptocurrency space.
