BNB Chain L2 opBNB: The next destination for GameFi?

The Rise of opBNB: A Closer Look at the Impressive On-Chain Indicators

Nov 24, 2023

Ever since its launch in September, BNB Chain’s layer-2 (L2) scaling solution opBNB has succeeded in extending the limits of the parent chain. opBNB has managed to carve out a separate place for itself amidst the numerous ethereum L2s dominating the landscape.

Exploring opBNB’s impressive on-chain indicators

The month of November saw significant spikes in user activity. Daily active addresses peaked at 277,662 on the 12th of November, as per AMBCrypto’s examination of on-chain data from opBNBScan.

After the fall from the peak, the trajectory started to trend upwards again. On the 22nd of November, 116,988 users were active on the L2, marking a 70% increase from the previous day.

The uptick in user activity caused a steep hike in daily transactions. More than 3 million transactions were recorded on the 22nd of November, 73% higher than the previous day’s count of 1.91 million.

More transactions but less fees

On the same day when total transactions peaked, the transactions per second (TPS) soared to 39.09. AMBCrypto checked the TPS of ethereum L2s on the same day using L2Beat data and found them to be considerably lower than that on opBNB.

Moreover, the average TPS of 5 in the last month was also on par with ethereum L2s.

The increased on-chain traffic didn’t burn a huge hole in users’ pockets. AMBCrypto observed that the average gas price on the 22nd of November was as low as 0.035 gwei.

Ideal destination for blockchain gaming?

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This combination of high transaction capacity and attractively low fees made opBNB the natural choice for high-frequency sectors like Web3 gaming.

In a recent blog post, BNB Chain highlighted the advantages of opBNB in boosting GameFi’s growth. It underlined the superior player’s wallet experience on opBNB and how the gaming experience was comparable to Web2.

Meanwhile, the ecosystem’s native token, BNB, continued to trade in the red. The fourth-largest digital asset was grappling with FUD after star CEO Chanpeng Zhao (CZ) exited out of Binance.

BNB recovered lost ground in the last 24 hours. However, as of this writing, the asset was still trading 7.16% lower than it was a week earlier, as per CoinMarketCap.

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By Team