Messari, a cryptocurrency research institution, released its Q2 2023 report on BNB Chain. The report highlights include: The daily active addresses and transaction volume on BNB Chain increased by 25.6% and 24.4%, respectively, mainly driven by LayerZero activity.BNB Chain's daily active addresses reached approximately 1.4 million, almost reaching the historical average level of the previous bull market cycle ending in Q4 2021 (about 1.5 million). The average new unique address increased by 91.1% month-on-month, reaching a historical new high after a surge in activity in late April

In addition, after the SEC accused Binance Coin (BNB) of being a security in its regulatory action against Coinbase and Binance, BNB Chain's market value fell by 25.2%. In comparison, the total cryptocurrency market value increased by 2%, mainly driven by BTC and ETH.

After the validators voted to reduce gas fees from 5 Gwei to 3 Gwei, the average transaction fee decreased by 25.5%, and BNB Chain's revenue (calculated in BNB) decreased by 6.1% month-on-month.

Staking remained stable on the network in Q2. BNB Chain plans to increase the number of validators from 29 to 100 through a new validator reward model (balanced mining) and validator reputation system.

BNB Chain continues to invest in the growth of its ecosystem by introducing the Gas Grant program and Zero2Hero incubator.

The increase in network activity has led to the recovery of DeFi activity on LayerZero and other use cases (especially in the SocialFi field).

Several technical developments were launched in Q2, including the Planck hard fork, Luban hard fork, and opBNB.