BNB Chain’s Road to Recovery After the Bear Market
According to a study by Messari, a well-known crypto analytics firm, Binance's BNB Chain is predicted to maintain its competitiveness in 2023 despite facing difficulties in the previous year.
The study, authored by Messari’s research analyst James Trautman, showcases the Binance Chain’s NFT sector as having a standout year in 2022, with secondary NFT sales rising 857.9% YoY.
However, the study indicates that this growth was not steady, with sales volume experiencing a steep decline in the latter half of the year due to the broader crypto market’s instability. NFT sales on the secondary market decreased as much as 67.4%.
Despite these challenges, the Binance Chain outperformed other layer-1 protocols in terms of daily transactions, averaging about 3.4 million daily transactions, as per the analysis.
The study further mentions that the Binance Chain has a plan for 2023 that centers on growth strategies and technological advancements, such as scaling solutions and improved performance.
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The team intends to expand the network through layer-2-like solutions, such as zero-knowledge rollups and sidechains, and promote decentralization by making the validator set open-source. The Binance Chain is also planning to implement parallel Ethereum Virtual Machine execution and draft a new validator reward model in the coming year.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
