Binance Roadmap for 2023 and BNB Reaction: Everything You Need to Know

  • BNB will launch Parallel EVM 3.0 in 2023 and will also increase its gas cap.
  • The number of transactions and addresses increased.

On February 14th, Binance Coin (BNB) posted your technology road map for the year 2023, highlighting its plans for the year and ongoing projects. Interestingly, on February 24, Messari shared a report about the same, citing the most notable points of the script.

Realistic or not, here it is BNB market capitalization in terms of BTC

A glimpse of the technology roadmap

The first project on the roadmap was the launch of a new storage network called BNB Greenfield, which recently went live. Within the larger BNB Chain ecosystem, BNB Greenfield is a decentralized storage infrastructure where users and dApps can create, store and exchange data.

According to the roadmap, this year Binance will also focus on its multichain solution, introducing several ZKP rollup based L2s for applications with massive users and predefined logic. BNB has already released its Parallel EVM v1 and v2 in 2022 and in 2023 it plans to introduce Parallel EVM 3.0.

Another major update was that BNB will increase the grid gas cap from 140 million to 300 million in 2023. This gas cap change will allow BNB chain to process more than 5,000 transactions per second. The new gas cap and increased transaction speed can help BNB gain more users.

By the way, Dune data revealed that the number of transactions on the BNB Network has been increasing since the beginning of this year, outpacing the rest. In addition, the number of transaction addresses has also increased considerably. Both developments reflected the increased use and adoption of BNB.

Source: Dune

BNB performance in 2023

While these updates sounded bullish for the network, its performance on the metrics has fluctuated over the last 30 days. For example, weighted BNB sentiments have remained on the downside in recent weeks. The token’s development activity has also slowed after peaking on February 9th, indicating less efforts from developers.

In addition, derivatives market demand also took a hit, as Binance’s funding rate from BNB remained relatively low.

How many 1,10,100 BNB in ‚Äč‚Äčtoday’s value?

After a comfortable start to the year, the BNB MVRV Index has dropped considerably in recent days, which can be attributed to the market’s bearish trend.

Source: Sancimento

However, the accumulation of BNB has witnessed an increase in the past month as their supply maintained by top addresses has seen an increase. So far, the price of BNB has fallen by more than 4.5% in the past seven days and has been negotiation at $302.09 at press time.

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