BNB Chain recorded substantial network growth during the fourth quarter of 2025, according to a comprehensive report released by Messari.
The blockchain platform finished the year with $118.9 billion in market cap, maintaining its position as the third-largest cryptocurrency asset.
Average daily transactions climbed 30.4% quarter-over-quarter to reach 17.3 million, while daily active addresses increased 13.3% to 2.6 million.
The network demonstrated resilience despite market turbulence that affected the broader crypto sector.
BNB Chain witnessed notable expansion in user engagement throughout Q4 2025. The platform processed significantly higher transaction volumes compared to the previous quarter.
Network activity remained elevated even after excluding October’s volatility spike, indicating sustained baseline growth. Daily active addresses reached 2.6 million, reflecting continued user adoption across the ecosystem.
Fee generation rebounded sharply during the quarter, totaling $100.1 million. This represented a 127.3% increase from Q3’s $44 million. The surge marked the highest quarterly fee total for the year.
However, the majority of fee growth concentrated around October 11, when market volatility triggered widespread liquidations across decentralized venues.
Technical upgrades played a role in supporting network performance. BNB Chain implemented several protocol optimizations, including Scalable DB architecture and BEP-592 block access lists.
These improvements enhanced execution efficiency and reduced operational overhead for validators. The network maintained its full complement of 45 active validators throughout the period.
Real-world assets became BNB Chain’s standout growth category in Q4 2025. Total onchain RWA value reached $2 billion, jumping 228% from the previous quarter.
This expansion positioned BNB Chain as the second-largest RWA network behind Ethereum. Messari noted that growth was driven by large institutional deployments across multiple asset classes.
USYC dominated the RWA landscape with $1.4 billion in value, representing 70.5% market share. BlackRock’s BUIDL fund followed with $502.9 million, accounting for 25.2% of total RWA value.
The platform secured major partnerships during the quarter, including CMB International’s $3.8 billion tokenized money market fund launch. Additionally, Ondo Global Markets brought over 100 tokenized U.S. stocks and ETFs onchain.
These institutional deployments reflected growing confidence in BNB Chain’s infrastructure capabilities. The network’s cost profile and operational reliability attracted traditional financial institutions seeking blockchain solutions.
Furthermore, BUIDL’s integration with Binance as accepted collateral strengthened connections between onchain RWAs and centralized liquidity venues.
Stablecoin market capitalization on BNB Chain grew 9.2% to reach $15.2 billion in Q4 2025. USDT remained the dominant stablecoin with $9 billion in market cap, increasing 12.4% from the previous quarter.
USDC recorded strong growth of 23.1%, reaching $1.3 billion. The expansion was supported by payment-focused initiatives and the extension of the 0-Fee Carnival program.
Meanwhile, DeFi total value locked contracted 15.2% to $6.6 billion during the same period. PancakeSwap maintained its position as the largest protocol with $2.2 billion in TVL.
Lista DAO and Venus Finance followed with $1.5 billion and $1.4 billion respectively. The decline reflected broader market deleveraging following October’s volatility.
DEX activity presented a mixed picture, with average daily volume increasing 12.5% to $2.7 billion. PancakeSwap volumes declined 17.7%, while Uniswap strengthened its position with a 20.9% increase.
The network also announced a $1 billion Builder Fund in partnership with YZi Labs to support long-term development across DeFi, RWAs, and other sectors.
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