- Binance Coin [BNB] had a good end to the year 2022 with increases in active addresses and transactions count.
- However, TVL and NFT ecosystems experienced a decline in revenue and total value locked.
- The new year brought better news for BNB as most of the cryptos gained bullish momentum.
Overview of BNB Performance in Q4 2022
Messari recently published Binance Coin’s [BNB] 2022 Q4 report, which highlighted the blockchain’s performance during the last three months of the previous year. As per the report, BNB Chain registered growth in quite a few areas. This helped BNB begin the new year on a good note. Average daily active addresses increased considerably by 30%, along with an influx of new network users as average daily unique addresses increased from 889k to over 1 million. Average transactions also witnessed a slight uptick despite the bearish market condition of that quarter registering an increase of 0.2%.
Decline In Revenue and Total Value Locked
Despite this growth, several other areas registered a decline such as quarterly revenue which decreased from $66.8 million to $59.98 million in Q4 2022 and network value which decreased by 13.4%. Similarly, Total Value Locked (TVL) denominated in both BNB and USD declined by 12% and 24%, respectively while NTF secondary sales dropped by more than 67%. However, after integration with OpenSea, the number of unique buyers skyrocketed changing this trend significantly.