In 2024, BNB’s market cap more than doubled to $101 billion, while annual revenue reached $234 million, making BNB Smart Chain one of the top Layer-1 blockchains by earnings.

According to the State of BNB Chain Q4 2024 report by Messari, BNB’s market cap rose 22% quarter-over-quarter to $101 billion in Q4 2024, more than doubling over the year. Despite strong growth, BNB slightly underperformed BTC, which recorded a 122% annual increase.

Network revenue also climbed, reaching $44.6 million in Q4—up 28% from the previous quarter. In BNB terms, revenue increased 10% to 69,500 BNB. For the full year, total revenue hit $234 million, reinforcing BNB’s position as a top Layer-1 blockchain by earnings.

On-chain activity rebounded in Q4, driven by a rallying market, with average daily transactions and daily active addresses increasing by 18% and 8%, respectively. However, both metrics remained lower year-over-year.

Stablecoins dominated network activity, accounting for nearly half of all transactions and seeing a 32% increase. They also led in daily active addresses, making up half of all active users and growing by 24% over the quarter.

Finally, BNB Smart Chain’s DeFi total value locked saw steady growth in Q4, surpassing $5 billion. However, it dropped to the fifth-largest chain after being overtaken by Bitcoin. Over the year, TVL in USD surged, but its value in BNB declined, reflecting the impact of BNB’s price appreciation.