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
Crypto news
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.
Crypto news
Quote
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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