BNB Chain is quietly stealing the spotlight. Over the past month, it has become the leading network for users of USDT (Tether), the world’s most widely used stablecoin. With nearly 12 million active wallets, BNB Chain has moved ahead of well-known players like TRON and Ethereum.
It didn’t happen with much fanfare, but the shift is hard to ignore. Behind the scenes, users are steadily moving their activity to BNB Chain, signaling a major change in where stablecoins are actually being used.
What’s driving this silent migration? The data tells a clear story.
Recent data from CryptoRank shows that more than 31 million wallets used USDT across various blockchains in the past 30 days. Among all these networks, BNB Chain came out on top, with nearly 12 million active addresses.
This surge highlights a clear trend: more people are choosing BNB Chain for everyday stablecoin transactions. Its fast transactions, low fees, and user-friendly experience are proving to be major draws for USDT users looking for efficient ways to send and receive funds.
TRON followed closely behind, reporting 11.2 million active addresses – still a significant figure and proof of its continued popularity for stablecoin transfers. Polygon ranked third with 2.6 million active wallets, while Ethereum came next with 1.8 million.
Once the go-to blockchain for USDT transfers, Ethereum is now losing ground due to its higher fees and slower processing times. Solana and Arbitrum, although growing, remained further behind with under 1 million active addresses each.
Alongside its rise in network activity, BNB Chain also completed its 31st token burn. In this latest round, 1.57 million BNB tokens were permanently removed from circulation, with a total value of around $916 million.
This burn is part of BNB’s ongoing plan to gradually reduce its total supply over time. The goal is to make the token more scarce, and potentially more valuable. At present, the total supply stands at about 139.3 million BNB, with over 40 million tokens still left to be burned in future events.
At the time of writing, BNB is trading around $604, up just over 2% as large investors continue accumulating during market fluctuations.
The current price trend remains neutral, with the Relative Strength Index (RSI) sitting at 48.57. This suggests that the token is neither overbought nor oversold. However, if the RSI crosses above 50, it could signal a shift in momentum, with buyers gradually taking control and paving the way for a potential upward move.
Final Thoughts
BNB Chain’s steady climb in USDT usage, combined with strategic supply cuts through token burns, is positioning it as a serious leader in the crypto space. While Ethereum and TRON still hold strong reputations, the numbers show that users are increasingly leaning toward faster and cheaper alternatives.
If the trend continues, BNB Chain could be setting the new standard.
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