August 2022, Monthly Binance Smart Chain Analysis – BSC Gas Price Increased by 4.4%
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Key data
- The average number of transactions per day in August decreased by 15.2%.
- In August, the average Binance Smart Chain (BSC) gas price increased by 4.4%, compared to July.
- The total number of unique active wallets increased by 19.6%.
BSC transaction statistics
Average number of BSC transactions per day decreased by 15.2%.
The average number of BSC transactions in August was 3,212,922. The average number of BSC transactions in July was 3,702,301. Compared to July, the average number of transactions in August decreased by 15.2%.
BSC average transactions per day
The highest number of transactions per day in August on the Binance Smart Chain were completed on August 1, 2022, with 3,724,440 transactions. The minimum number of 2,595,450 transactions was confirmed on August 21, 2022.
Binance Smart Chain daily transactions in August 2022
BSC block statistics
Average number of BSC blocks per day decreased by 1.6%.
The average number of BSC blocks per day in July was 28,729, and the average number of BSC blocks in August was 28,193. The average number of blocks per day on the Binance Smart Chain in August decreased by 1.6%.
BSC average number of blocks per day between April
In July, the average size of all blocks validated in one day on the Binance Smart Chain was 0.99 Gb. In August, this value was reduced to 0.86 Gb, which is a decrease of 15.1%.
BSC average size of blocks mined per day between April
Similar trend is shown on the BSC total block size per month. It can be seen that the total size of blocks mined per month in the Binance Smart Chain in August 2022 was 26.53 Gb. In July 2022, this amount was 30.63 Gb, which is a decrease of 15.5%.
BSC total block size per month between April
BSC gas prices statistics
Average BSC gas price increased by 4.4%.
The average gas price on the Binance Smart Chain in July was 6.89 gwei. In August, it increased by 4.4% and was 7.21 gwei.
BSC average gas price per month in Gwei between April
The highest gas price, fixed in August, was on August 29, 2922, when it reached the value of 8.68 gwei. The lowest gas price, fixed in August, was on August 13, 2022, and equaled 6.64 gwei.
BSC average gas price per day in Gwei during August 2022
BSC active addresses statistics
In August, the total number of unique active wallets increased by 19.6%.
In July, the average number of daily active addresses on the Binance Smart Chain was 905,405. In August, this number decreased by 7.9% and was 839,052.
BSC average number of daily active addresses between April
The total number of unique active crypto wallets in July was 7,354,819. In August, this value increased by 19.6% and was 9,146,225. The average number of unique active crypto wallets per day was 871,973 in July.
In August, this value decreased by 19.2% and was 798,559.
BSC active wallets per month between April
Data-driven conclusions
Overall activity on Binance Smart Chain continues to decline. However, we are seeing a slight increase in the cost of gas on the Binance Smart Chain network as well as an increase in the total number of unique active wallets.
At the same time, the average number of unique active addresses per day has decreased. Indicators, such as the number of new smart contracts deployed, completed transactions and average blocks per day, continue to decline.
The data suggests that the activity of the BSC network is declining, suggesting a continuation of the bearish trend.
Olga Ortega is the chief product officer and co-founder of the real-time DeFi explorer AnalytEx by HashEx. She is an accomplished expert in the field of IT, with over 12 years in development and implementation of large-scale data systems. Over the years Olga held managerial positions in multiple global organizations, such as IT giants Google and Facebook. At AnalytEx, she is responsible for driving the project’s development.
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Author: Olga Ortega
