According to data from Nansen, BNB Chain—linked to Binance—has surged past Solana in daily transaction fees, securing the top spot among all blockchains.
On February 13, BNB Chain recorded over $5.8 million in daily fees, significantly outpacing Solana’s $3.3 million and surpassing Ethereum by more than five times. This marks the first instance since Halloween 2024—when Bitcoin had an exceptional day—that a blockchain other than Ethereum or Solana dominated daily fees.
PancakeSwap Tops DEX Trading Volume
A substantial portion of BNB Chain’s activity came from PancakeSwap, a decentralized exchange (DEX) that operates across multiple chains but sees most of its trading volume on BNB Chain. On February 13, PancakeSwap emerged as the highest-volume DEX across all blockchains.
Adding to the buzz, Binance co-founder Changpeng Zhao shared that his dog’s name is Broccoli, sparking a wave of memecoins inspired by his Belgian Malinois. However, Zhao clarified that he had no intention of launching any tokens himself.
The recent surge in BNB Chain activity extends beyond meme-based speculation. In terms of daily active addresses, it has now overtaken both Ethereum and Tron to secure second place, although its nearly 6 million active addresses over the past week still trail behind Solana’s industry-leading 35.8 million.
Memecoins Drive BNB Chain’s Activity Surge
On February 9, BNB Chain ranked second in daily fee revenue, just behind Solana. A major catalyst was the explosive rise and subsequent crash of the BNB-based “Test” (TST) token.
Originally intended as a simple tutorial token for Four.Meme, BNB Chain’s memecoin launchpad, TST quickly became a target for speculation. Its market cap skyrocketed to $500 million before ultimately collapsing.
While memecoins are often seen as having little intrinsic value, they have been one of crypto’s most widely used applications in the past year. Even high-profile figures, including former U.S. President Donald Trump, have engaged with the memecoin trend.
Solana has been the dominant player in the memecoin market, with speculative trading significantly boosting its blockchain metrics like fees. However, BNB Chain has embraced the trend, outlining its commitment to supporting the memecoin ecosystem in its 2025 roadmap.
Meanwhile, BNB—the native token of BNB Chain—has climbed 15% over the past week. Serving as the blockchain’s primary transaction fee token and playing a crucial role in Binance’s ecosystem, BNB recently surpassed Solana’s SOL in market capitalization, securing its position as the fifth-largest cryptocurrency.
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