It has finally happened, and while we all knew it was a real possibility, it is still surprising. After several months of constant growth, reflected in the price of its cryptocurrency, BNB, the Binance Smart Chain surpasses Ethereum in number of active wallets and volume of transactions. Therefore, ETH would now face a fight for its survival as the main chain for decentralized applications, which is clearly seen in the Tweet of the day written by DappRadar:
Binance Smart Chain sweeps
Probably the most surprising element in the rise of the Binance Smart Chain is the speed with which it occurred. And it is that, since its launch by Binance, it was clear that this Blockchain would represent a serious threat to Ethereum. Essentially due to the institutional support provided by being the blockchain of the main company in the crypto world.
However, no one could imagine that less than a year after its departure to the crypto world, the Binance Smart Chain would be surpassing Ethereum in number of active wallets and volume of transactions. An achievement that seemed impossible, considering the level of dominance that ETH maintains in the sector of decentralized applications.
Thus, although we still cannot say that the Binance Smart Chain has overtaken Ethereum as the main blockchain for the creation of dApps. Undoubtedly, these figures are an immense blow to the ETH ecosystem, which resists thanks to the volume of applications already hosted on its Blockchain. A data that can vary quickly as the migration of 1inch to Binance demonstrated.
«BinanceSmartChain has surpassed #Ethereum in terms of active unique wallets and transaction volume in February 2021».
In this way, although the fight is not over, and everything can happen especially with the launch of ETH 2.0, the new version of Ethereum. The truth is that if the trend continues in the coming months, we could be witnessing the last moments of Ethereum as the leading chain of the crypto world.