In 2017, Binance, the cryptocurrency exchange, entered the blockchain space with its original Binance Chain, which was built on Ethereum. However, the Binance Chain lacked support for smart contracts, limiting its capabilities.

To overcome these limitations, Binance launched Binance Smart Chain (BSC) in 2019 as a parallel blockchain. This innovative solution significantly improved transaction speeds and reduced costs, making it more user-friendly and scalable.

BSC operates on a proof-of-stake consensus model, introducing a range of efficient features and solutions that have cemented its place in the blockchain ecosystem.

Explore our data insights to better understand BSC’s impact and success within the blockchain industry.

Check out the data below.

Overview of Binance Smart Chain Statistics

  1. As of August 2024, the cryptocurrency market’s highest daily active address count was recorded on March 9th, with 1.528 million active addresses.
  2. In 2024, the peak single-day transaction count reached 6.405 million on February 22.
  3. By 2023, BSC’s total storage size expanded from 1.73 TB to 2.45 TB.
  4. In 2022, there were 87,190,393 EOAs; by the end of 2023, this number had skyrocketed by 74.8% to reach 152,436,001.
  5. As of August 2024, the Binance Smart Chain hosts 468,935,954 unique account addresses.

Binance Smart Chain Daily Active Addresses Statistics

In 2021, the daily active addresses on Binance Smart Chain (BSC) peaked on November 14th, reaching 1.719 million. However, active addresses declined in 2022, with the highest count recorded in January at 1.321 million.

Activity rebounded significantly in 2023, with daily active addresses hitting an all-time high of 3.513 million on December 30th—a 165.92% increase compared to the 2022 peak.

In 2024, as of August, the highest daily active address count was on March 9th, at 1.528 million.

The BSC network has shown substantial fluctuations in daily activity, with a sharp rise in 2023.

While the activity has been intense, it hasn’t yet surpassed the peak of 2023. With several months remaining in the year, there is potential for 2024 to exceed the previous year’s record.

Binance Smart Chain Transaction Count Per Day

The number of daily transactions surged significantly in 2023, mirroring the increase in daily active addresses. On December 7, 2023, transactions hit a three-year high, reaching 32.68 million in a single day.

In contrast, 2022 saw considerably lower transaction counts, with the peak being 6.578 million. In 2021, the highest recorded daily transactions occurred on November 28, totaling 15.28 million.

So far in 2024, the highest number of transactions in a single day occurred on February 22, amounting to 6.405 million.

Average Block Time On Binance Smart Chain

In 2021, Binance Smart Chain (BSC) reported its lowest average block time at 747.5 seconds. Throughout 2022, the average block time consistently remained below 3 seconds.

The only exception occurred in April 2023, when the average block time briefly spiked to 5,807 seconds. Since that incident, BSC’s block time has stabilized and returned to under 3 seconds.

BSC has demonstrated efficiency with consistently low block times, aside from the brief disruption in April 2023.

This performance highlights its ability to handle transactions quickly, making it a reliable choice for decentralized applications (dApps) and users focused on speed.

Binance Smart Chain Block Size

In 2022, Binance Smart Chain (BSC) generated over 10 million blocks, increasing the total storage size for historical data—blocks, transactions, receipts, and code—from approximately 658 GB to 1.07 TB, reflecting a growth of around 63%.

Additionally, the pruned full node’s total storage reached approximately 1.60 TB. The same year, receipts, headers, and codes accounted for 487.4 GB, 13.6 GB, and 15.5 GB, respectively.

By 2023, BSC’s total storage grew from 1.73 TB to 2.45 TB, marking a growth rate of 41.6%. Notably, the block body size increased by 256 GB, which indicates 46.4% growth.

Meanwhile, the receipts, headers, and code storage expanded by 185 GB, 6.68 GB, and 4.73 GB, respectively. These components experienced notable growth rates: 37.95% for receipts, 49.1% for headers, and 30.5% for codes.

Binance Smart Chain Account Statistics

There are two types of accounts in the Binance Smart Chain (BSC) ecosystem: Externally Owned Accounts (EOAs) and Contract Accounts.

Externally Owned Accounts (EOAs) function similarly to regular crypto wallets.

They are accessed via private keys to send and receive BNB and tokens, interact with smart contracts, and perform transactions.

Contract Accounts, on the other hand, cannot be accessed by private keys. Instead, they are controlled by the code of the smart contract itself.

These accounts execute predefined functions automatically when they receive transactions, functioning autonomously based on the contract’s logic.

In 2022, the number of EOAs was 87,190,393, which surged by 74.8% to 152,436,001 by the end of 2023. Similarly, Contract Accounts grew from 47,329,085 in 2022 to 104,809,811 in 2023, a 121.4% increase.

On Binance Smart Chain (BSC), Key-Value (KV) pairs are used to store data.

The key allows access to specific information, such as account balances, smart contract states, or transaction details, while the attached data is referred to as the value. Together, they form a KV pair.

The number of KV pairs on BSC saw a significant increase in 2023. In 2022, there were 3,449,013,209 KV pairs, which grew to 5,068,274,292 by the end of 2023, reflecting the growing adoption and activity on the chain.

The rapid growth in KV pairs between 2022 and 2023 highlights the increased usage of BSC, driven by more complex smart contracts and higher transaction volumes.

BSC Unique Addresses Numbers

As of August 2024, there are 468,935,954 distinct account addresses on the Binance Smart Chain. At the end of 2023, this figure stood at 413,171,754, showing substantial growth.

2022 the total number of unique addresses was 236,187,704, marking a 74.96% increase in unique addresses from 2022 to 2023.

The Binance Smart Chain continues to experience strong growth, with the number of distinct accounts rising consistently over the years, reflecting the increasing adoption and activity on the network.

BSC Market Share

The total value locked (TVL) across all blockchains is $138.45 billion. Binance Smart Chain (BSC) contributes 3.68% of this, with a TVL of $6.05 billion.

This positions Binance Smart Chain as the 4th largest blockchain by TVL.

Binance Smart Chain remains a significant player in the decentralized finance (DeFi) space, holding a notable portion of the market.

BSC More Statistics 

  1. The network is maintained by 41 validators, each holding significant stakes in Binance’s native token, BNB.
  2. Despite this, BSC offers notable features such as a 3-second block time, Ethereum Virtual Machine (EVM) interoperability, and cross-chain asset transfers.
  3. As of this writing, BSC is the #4th largest blockchain by total value locked (TVL).

FAQs 

Q1.What is the peak 24-hour transaction volume on Binance Smart Chain?

The highest 24-hour transaction volume on Binance Smart Chain (BSC) was recorded on November 5, 2021, reaching $24.35 billion.

Q2.Transaction of how many tokens does Binance Smart Chain support?

Binance Smart Chain (BSC) supports over 1.7 million tokens, primarily focusing on facilitating the transaction of tokens using the BEP-20 standard.

Q3.How many active dApps are deployed on the Binance Smart Chain?

As of 2024, Binance Smart Chain hosts over 2,000 active decentralized applications (dApps). These applications cover various use cases, including decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs).

Q4.How much is the transaction fee on Binance Smart Chain (BSC)?

The Binance Smart Chain (BSC) offers low transaction fees and fast block times. The average transaction fee is as low as $0.10, making it an attractive option for users seeking cost-effective and efficient blockchain interactions.