The number of unique addresses on Binance Smart Chain has reached a new ATH of 47.3 mln, up 2265% from 2 mln unique addresses recorded in mid-February. Such a meteoric rise in the number of unique addresses on the Binance Smart Chain over a two-week period is bound to lead to an increase in transactional activity involving Binance Coin (BNB). The steady increase in new addresses on the Binance Smart Chain was first noted in early February, right before the price of Binance Coin (BNB) soared from $50 to a new all-time high of $349 on February 19.
One of the reasons for the increase in the number of unique addresses can be attributed to the recent expansion of 1inch Exchange to Binance Smart Chain. On February 7, the 1inch Exchange team announced that they will be deploying the 1INCH token on the Binance Smart Chain. Also on February 7, 2021, Binance Smart Chain saw the highest increase in unique addresses at 6.382 mln.
According to the official announcement, the expansion of the 1INCH token to Binance Smart Chain will provide users with a bridge to access all Binance-based DEXs. 1inch users will have access to PancakeSwap, BurgerSwap, StreetSwap, Venus, StableSwap, JulSwap, BakerySwap and other Binance-based DEX and lending protocols.