BNB Chain has just pulled off a stunning upset by surpassing Solana in daily fees for the first time since October 2024.
And get this, it’s the first blockchain since Bitcoin to outpace both Ethereum and Solana in daily fees.
Milestone
Nansen shared that based on their new data, BNB Chain raked in over $5.8 million in daily fees on February 13, leaving Solana trailing at $3.3 million and even eclipsing Ethereum’s total by more than five times.
This is a pretty significant moment in the crypto world, marking the first time since Halloween 2024 that a blockchain other than Ethereum or Solana has taken the lead in daily fees.
But what’s driving this growth? A big chunk of BNB Chain’s activity comes from PancakeSwap, a decentralized exchange that’s accessible across multiple chains but is especially popular on BNB Chain. On that same day, PancakeSwap topped all DEXs in trading volume. No surprise.
Just before Valentine’s Day, Binance co-founder Changpeng Zhao revealed that his dog is named Broccoli.
This quirky tidbit sparked a wave of memecoins named after his Belgian Malinois. Zhao quickly clarified he wasn’t planning to launch any memecoins himself, but you know how the crypto community loves a good meme. And dogs.
Growth game
BNB Chain isn’t just riding the memecoin wave, but it’s also seeing a surge in daily active addresses.
It already surpassed Tron and Ethereum to bag second place in that category, with nearly 6 million active addresses over the past week. To be honest, it still lags behind Solana’s 35.8 million.
Speaking of memecoins, BNB Chain ranked second in fee revenue on February 9, just behind Solana.
An important factor was the wild ride of the BNB-based TST token, which started as a tutorial token for a memecoin launchpad but skyrocketed to a $500 million market cap before crashing back down.
What fundamentals?
Memecoins may seem like a joke with no real value, but they’ve become surprisingly popular, so much so that even political figures like Donald Trump have endorsed some meme tokens.
With BNB Chain pledging support for the meme ecosystem in its 2025 roadmap and its native token rising 15% over the past week, it seems like this blockchain is ready to keep climbing.
It’s even overtaken Solana’s SOL to become the fifth-largest cryptocurrency by market cap.
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