BNB Chain is suffering from success, seeing its gas fees explode upward by 388% in a single week.

Their solution is to undertake a massive upgrade in how validators handle transactions.

And it couldn't have come at a better time.

Could this be the move that helps Binance start to eat into Solana’s market share?

Under The Hood 

The changes themselves are impressive.

Validators can now process multiple bids every three seconds, meaning that your degen meme coin trades might actually go through rather than get bottlenecked.

For anyone who tried to submit transactions on Solana during peak congestion, this should come as a pleasant surprise.

And the whales can, of course, still jump the queue if they're willing to pay.

After all, this is crypto, and the fee market means that validators still want to include whichever transactions are offering the most bang for their buck. 

Big Upgrade Means Big Numbers

BSC just hit some absolutely bonkers metrics, raking in a record-shattering $15 million in gas fees last week alone.

That's double what Ethereum pulled in for those keeping track… yeah, it’s not looking good for the OG smart contract chain these days. 

Naturally, Solana is still the gas fee king at $29 million – those new nation-state level meme coins are really helping pump up those numbers, even if they’re wrecking degen portfolios in the process.

To put this into context, recall that everyone went absolutely crazy for the litany of tokens inspired by CZ's dog, Broccoli.

Yes, you read that right – we're now aping into vegetable-themed dog tokens because the founder has a cute little pup that bears the name of a green food you wouldn’t eat as a kid.

PancakeSwap is seeing more action than your average Vegas casino, which bodes well for the validators who make it all happen.

And BNB's price is enjoying a comfy 13% bump on the back of the news – congratulations, HODLers.

Zooming Out

BNB Chain isn’t playing around with its meme coin game anymore.

Not only is Binance sunsetting the legacy Beacon Chain to focus on BNB Chain’s success but it’s now the biggest EVM chain by monthly transactions.

Their market cap just crossed $104 billion and they processed 68.3 million transactions in 30 days thanks to the litany of degens wanting to trade in a new environment.

All of this competing market share is starting to no doubt make Solana nervous.

Four.meme dropped a bombshell by enabling 12,000 new meme tokens in one day, which is more tokens than most chains see in a year.

To add some more data to the mix, BNB Chain now handles 6% of all crypto transactions, meaning that meme season is very much alive on BSC.

The Second Rise Of Binance?

BSC is playing chess while others are playing checkers – they saw the meme wave coming and actually prepared for it.

Whether this keeps gas fees in check is another story – after all, demand might grow to fit this newly created supply. 

But hey, at least your vegetable dog token trades might go through faster now.