BNB Chain will prioritize memecoin transactions as gas fees surge 400%
Name
BNB Chain will prioritize memecoin transactions as gas fees surge 400%
Description
BNB Chain (BSC) has collected nearly $15 million in gas fees from users over the past 7 days, a surge of 400% and more than double Ethereum’s sum, as memecoin speculation increases on the network.
Publish date
12:00am, Saturday, February 15, 2025
Referenced by
CZ announced two major upgrades for BNB Chain
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News story
BNB's recent surge in price has coincided with historic gas fees on the network. BNB Chain users have spent nearly $15 million in transaction fees over the past 7 days, more than double Ethereum's $7 million and second only to Solana's $29 million, according to Nansen data. BNB Chain's gas fees represent a 388% surge from the prior period. "BSC's fees surged 114% over the past 7 days, while blockchains like Solana, Ethereum, and Base have seen negative growth," Nansen analyst Aurelie Barthere recently told The Block. "One potential catalyst for this growth could be the recent 60-day pause in Binance's legal battle with the SEC, announced [Monday]." A flurry of memecoins inspired by Binance founder Changpeng "CZ" Zhao's dog Broccoli has also spurred activity on the network, bolstering decentralized exchange PancakeSwap in turn.
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The network released its first optimization to deal with the increased traffic today, giving transactions interacting with time-sensitive contracts, like memecoin trades, a higher priority.
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