The month of October was an exciting period for BNB, as the numbers continued to increase across the board. While the cryptocurrency market has been experiencing a sideways movement, BNB’s ecosystem has flourished.
To that end, pSTAKE is pleased to bring you the next edition of our monthly BNB staking report, containing a comprehensive overview of everything you need to know.
Learn more below.
BNB Ecosystem News Highlights
- Binance Invests $500M into Twitter: Binance chief CZ explained the move, stating, “We want to make sure crypto has a seat at the table when it comes to free speech.”
- Binance Secures Operation License in Kazakhstan: Binance has received a permanent license to offer Digital Asset Services in Kazakhstan, carrying profound implications for BNB Chain.
- Binance Oracle Network Launch: The Binance team launched Oracle Network to power Web3 and BNB Chain, making it the first blockchain network to utilise Binance Oracle to connect smart contracts with off-chain data.
- BNB Chain Builder Grant Program: Developers can apply for a Builder Grant to build innovative applications on BNB Chain through their new program.
- stkBNB on pSTAKE: The total TVU (Total Value Unlocked) for stkBNB on pSTAKE reached a high of ~$8M at the beginning of the month, now sitting at just above 23,100 tokens minted.
BNB Token Statistics
BNB’s overall statistics have increased significantly since September. Below you can find a summary of key BNB token stats:
- Total Market Cap: $51B+
- 24-Hr Trading Volume: $1.3B+
- Circulating Supply: 163M+
BNB Chain Network Activity
BNB Chain adoption and activity have steady increased over the last month, continuing to stand strong as one fo the most utilized blockchains.
Below please find the key statistics on network activity below:
- Daily Transactions: 3.5M+
- Unique addresses: 210M+
- Average gas price: ~7.33 Gwei
- Average block time: ~2,410 seconds
BNB Staking Stats
Growth in staked BNB increased from September to October, but experienced a slower rise than in previous months. In total, the amount of BNB staked on BNB Chain rose from 19.3M in September to 19.4M in October (~0.5% increase).
Although there was a small increase in staked BNB, this is a strong sign for the network as a whole, as the token’s staking ratio continues to increase regardless of market conditions.
BNB still stands as the 4th largest cryptocurrency token (out of 161 networks) when it comes to its staking market cap.
Additional data surrounding BNB staking can be found below:
- Staking Market Cap: $6.05B+
- Staking Ratio: ~11.9%
- Delegating APR: ~4.05%
- Validating (Running a Node) APR: ~4.28%
BNB Liquid Staking Ecosystem
BNB liquid staking protocols are essential components to incentivising BNB Chain activity while helping enhance security for the overall network. Below you can find a list of current platforms that support liquid staking for BNB, along with their TVL (Total Value Locked):
- pSTAKE: Receive minted stkBNB ($7.2M+ in TVL).
- Ankr: Receive minted aBNBb or aBNBc ($108.8M+ in TVL).
- Stader: Received minted BNBx ($17.5M+ in TVL).
- StaFi: Receive minted rBNB ($74.7K+ in TVL).
- SteakBank: Receive minted LBNB ($141K+ in TVL).
pSTAKE’s stkBNB continues to be one of the most well-integrated liquid-staked BNB assets on the market, allowing users to earn additional yield across BNB Chain DeFi while providing on-chain security to simultaneously earn staking rewards.
Liquidity for Staked BNB
DEXs (decentralised exchanges) are important in allowing liquid-staked BNB assets to be traded and utilised across BNB Chain DeFi.
Below please find a list of the total liquidity across supported DEXs:
BNB Chain has a total of 51 validators, adding an additional 2 since September – these validators are essential actors in helping secure the underlying network.
Out of the 51 validators, 26 are active and 25 are inactive. The minimum amount of BNB required to stake to become a validator is 10,000 tokens.
Thank You for Reading
A big thanks goes out to our community for reading and reviewing our BNB staking monthly report. Our goal is to continue to bring you an update every month to help inform and educate the pSTAKE and BNB communities on everything happening with BNB staking and the BNB Chain ecosystem.
Make sure to follow pSTAKE on our social media channels to stay updated on everything surrounding our liquid staking ecosystem.
pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.
At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).
Developed by Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.Twitter | LinkedIn | Telegram | Blog | YouTube | Reddit | [email protected]