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BNB Chain surpasses 500 million active wallet addresses after TST fever
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- @airdropdecks
The TST token FOMO event boosted the number of active wallet addresses but caused unpredictable consequences on BNB Chain.
The BNB Chain network has just recorded a remarkable milestone, surpassing the number of 500 million active wallet addresses. This information was shared by Whale Insider on the X platform (formerly Twitter), and coincides with the event revolving around the test meme coin Test (TST).
Test (TST) is a test token created by the BNB Chain development team for instructional purposes, illustrating how to create meme coins on BNB Chain's Four.Meme platform.
Originally intended only for educational purposes, TST unexpectedly “caused a fever” by spiking by 1.100% in just the first three days. Data from Coinmarketcap showed that the token peaked at $0.52 before plummeting to $0.20, representing a 62 percent drop from the peak.
The spike in TST growth can be traced back to the token's fleeting appearance in a frame of the tutorial video. The video was later taken down, but then reposted at the direction of Binance co-founder Changpeng Zhao.
In the X post, CZ clarified that TST is not an official token and has no connection to BNB Chain other than as an example illustrated in the video tutorial.
Although created for educational purposes only, TST has brought an unintended benefit. The community's FOMO on TST tokens may have played a role in the recent rise of active addresses on the BNB Chain network.
As the number of active addresses on the BNB Chain continues to increase, the issue of Maximum Exploitable Value (MEV) becomes more prominent.
MEV refers to the additional profit that validators earn by manipulating the order of transactions, often through front-running and sandwich attacks, which exploit network vulnerabilities for financial gain.
In particular, sandwich attacks have become a popular form of mining on BNB Chain, costing users millions of dollars due to bots manipulating transactions for profit.
In 2024 alone, BNB Chain users are reported to have lost about $1.5 billion to these types of attacks. This suggests that the BNB Chain network is experiencing security issues when there are too many transactions.
Recently, the founder of Binance, Changpeng Zhao (CZ), expressed interest in the MEV issue on social network X.
He opened a poll asking people whether BNB Chain should eliminate or mitigate MEV issues. This suggests that Binance is seriously considering this issue and will likely take action to address it in the future.
