The Binance Smart Chain (BSC), often referred to as the BNB Chain, has started 2026 with a significant surge in network activity and revenue. According to on-chain data from CryptoQuant, the network's daily total revenue surged past $1.3 million on January 8, marking its strongest revenue day in months and breaking a prior record of approximately $1.27 million set on November 30. This represents a decisive break from a two-month low range observed throughout November and December, where daily revenue had previously dropped to less than $600,000.
This revenue spike reflects a sharp increase in on-chain demand, signaling renewed user engagement beyond short-term speculation. The data shows BNB Chain outperforming other major networks like Bitcoin, Tron, Aptos, and Base in daily revenue generation. Network transaction activity has also picked up, with transactions in the last 24 hours jumping to 17 million, a 4 million increase within two weeks. However, DeFi volumes on the chain have remained relatively subdued, attributed to most retail activity still occurring on centralized exchanges like Binance.
In a parallel development with significant institutional implications, Grayscale has filed for a BNB Exchange-Traded Fund (ETF) in Delaware. This is not the first such application; VanEck's VBNB ETF had its S-1 amendment filed last year. The approval of a BNB ETF would enable institutional investors to gain exposure to the BNB chain's extensive ecosystem, potentially unlocking new liquidity streams.
The native BNB coin's market performance has mirrored the network's positive momentum. BNB is trading near $915, having gained 32% year-to-date and outperforming 61% of the top 100 crypto assets. The coin found a bottom near $821 in December and rallied to as high as $923 last week. Technical indicators show a balanced but positive outlook, with the RSI at 65.18 suggesting buyer control. Analysts note that robust network demand could fuel further price appreciation, with the coin being approximately 34% away from its all-time high.
