The State of BNB Staking: November 2022 Report

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While November marked a turbulent month in the crypto space, Binance and its BNB ecosystem stood out as the shining star among the crowd. Even with major market volatility, metrics remained strong and their team continued to build and power through the noise.

In this month’s BNB staking report, we’re covering all of the important highlights and metrics surrounding BNB so you don’t miss a thing.

To learn more, keep reading below.

BNB Ecosystem News Highlights

  • BNB Liquid Staking Audits & Security: Released a detailed thread and blog on the importance of auditing and security for BNB liquid staking protocols.
  • Innovation Pitch Day in NYC: Coming this week on December 3, 2022, BNB Chain’s Innovation Pitch Day is coming to New York City for crypto startups to pitch their project ideas.
  • New Incubation Program: BNB Chain announced the upcoming launch of its MVB VI Incubation Program to provide more opportunities for early-stage crypto projects.
  • Football Fiesta Event: To celebrate the 2022 World Cup in Qatar, BNB Chain kicked off this campaign with 60 activities and over $600,000 in prizes.
  • Web3 Hackathon: The BNB Chain team participated (as a partner with YGGPilipinas) in their Web3 Hackathon to put our minds to the test and innovate for a chance to win exclusive prizes.

BNB Token Statistics

Numbers for the BNB token held steady given the high market fluctuations this month – learn all about November’s BNB token stats below:

  • Total Market Cap: $50B+
  • 24-Hr Trading Volume: $652M+
  • Circulating Supply: 163M+

BNB Chain Network Activity

As always, BNB Chain remains one of the most utilised blockchains in the industry as it keeps gaining traction from users and projects across the globe.

Take a look at the latest statistics on network activity below:

  • Daily Transactions: 3.4M+
  • Unique addresses: 223M+
  • Average gas price: ~6.4 Gwei
  • Average block time: ~2,410 seconds

BNB Staking Stats

BNB Chain continued to show strength across the month of November, with the amount of staked BNB on the network rising from 19.4M in October to 21.9M in November (~12% increase). Again, taking the negative market sentiment into account over the past few weeks, many consider this to be quite remarkable growth.

Furthermore, this spike in staked BNB greatly contributes to BNB Chain’s security and robustness, potentially marking the largest month-over-month increase of on-chain staked tokens to date in 2022.

Largely due to the above numbers, BNB has now climbed to the 3rd largest cryptocurrency token (out of 166 networks) in terms of staking market cap.

See more data on BNB staking below:

  • Staking Market Cap: $6.9B+
  • Staking Ratio: ~13%
  • Delegating APR: ~3.85%
  • Validating (Running a Node) APR: ~4.11%

BNB Liquid Staking Ecosystem

BNB liquid staking protocols have certainly played a role in helping grow the number of on-chain staked BNB tokens on BNB Chain. Check out a list of the current platforms that offer this service and the respective TVL (Total Value Locked) of their liquid-staked BNB assets:

Our stkBNB token continues to provide a variety of BNB Chain DeFi opportunities to holders, with more partnerships and integrations on the way.

Liquidity for Staked BNB

DEXs (decentralised exchanges) remain as the critical infrastructure needed to enable liquidity and utility for liquid-staked BNB tokens. Below is a list of the total liquidity across all supported DEXs:

Validators

BNB Chain has a total of 53 validators that are key to helping secure and power the network – the number of validators has increased from 51 in October.

Of the 53 available validators, 26 are active and 27 are inactive. The minimum amount of BNB required to stake to become a validator is 10,000 tokens.

Follow us for More

It’s been remarkable to witness the BNB ecosystem hold its ground, with many of its statistics actually rising and becoming stronger. There’s much more to get excited about over the next few months, especially leading into 2023.

To stay up-to-date on everything related to BNB and liquid staking, follow pSTAKE on our social media channels.

About pSTAKE

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).

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