BNB Chain delivered a striking Q1 performance in turnover and on-chain statistics, even when market capitalization fell nearly 15%.
According to a new report from Messari, BNB Chain achieved strong income performance in Q1 2025, with network income that jumps 58.1% quarter-over quartaal to $ 70.8 million. The increase was largely powered by an increase of 122.6% in portfolio costs for wallet-to-wallet, accounting for 17.4% of the total turnover that Defi exceeds. The Defi category contributed a modest 8.4% of the total turnover, and grew 7.6% QOQ, while Stablecoin-related activities expressed 5.2% of sales, which increased 23.4% QOQ, but with a reduced sales share of 5.2%.
Source: Messari
Despite the impressive sales growth, the market capitalization of BNB fell by 14.8% during the quarter, ending at $ 86.2 billion. Nevertheless, BNB maintained its rank as the fourth largest non-stablecoin crypto assets per market capitalization.
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Regarding the activity on the chains, BNB Smart Chain saw average daily transactions increase 20.9% QoQ to 4.9 million, while the daily active addresses with 26.4% jumps to 1.2 million. Stablecoins continued to dominate, so that approximately 45% of all transactions were 1.2 million per day, and wallet to rose wallet transfers per day by 50.9% to 835,000. The total value locked in BNB Smart Chain rose by 14.7% in BNB terms.
Source: Messari
DEX volume rose by 79.3% QoQ, an average of $ 2.3 billion in daily trade, with pancakes, accounting for more than 90% of the total DEX activity of the chain.
Messari also noted that the successful rollout of the Pascal Hard Fork, which introduced important technical upgrades, such as EIP-7702 Smart Contract Wallets, Batch Transaction Support and improved cryptography. In addition, the BNB Good Will Alliance, launched in March, helped to lower sandwich attacks by more than 90% by coordinated MEV protection efforts.
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