A week ago, CZ (Changpeng Zhao, the founder of Binance) has proposed a 50% fee reduction in gas fees on the BSC network.
The day after CZ suggested halving transaction fees on the Binance Chain, BNB jumped 3%, trading at $1,013.17.
Today, BNB Chain has officially announced the new minimum gas price of 0.05 Gwei. This change lowers transaction costs from the previous 0.1 Gwei, making the network even more accessible.
BitcoinInsider.org stated the following:
With the new gas fee slash to $0.005 per transaction, BSC now rivals Solana. The transaction fee for Solana is typically around $0.0001-$0.0025. Consequently, Solana still edges out BSC on affordability, making it ideal for micro-transactions.
Solana employs a different mechanism significantly from other blockchains, contributing to its reputation for cost efficiency.
Solana gas fees remain consistently low and transparent, unlike other networks that struggle with unpredictable gas costs. This mechanism makes budgeting for transactions much simpler for users and developers alike.
However, with the new 0.05 Gwei floo, BSC closes the gap for EVM-based dApps. The blockchain offers better interoperability with Ethereum tools and a more stable ecosystem for builders.
The reduction in gas fees comes after a series of successful cuts in the past. In April 2024, gas fees fell from 3 Gwei to 1 Gwei, and in May 2025, they were further reduced to 0.1 Gwei. These previous cuts have significantly boosted daily transactions on the network, with a 140% surge in transactions following the May 2025 reduction. The latest cut is expected to further drive activity, particularly among traders and developers.
Validators on BNB Chain have proposed this 50% reduction in gas fees to keep the network competitive with other blockchains, such as Solana and Base. The proposal also includes accelerating block intervals from 750ms to 450ms, aiming to increase throughput and finality. This initiative is part of the broader strategy to attract and retain traders, developers, and market makers, thereby boosting overall ecosystem activity.
The latest news had a positive impact on BNBs price, and at the moment of writing this article it is ~$1,038.16.
According to the latest data, the number of transactions on the BSC network in the last 24 hours increased by 4%. Considering the latest announcement, the number of transactions on the chain is expected to rise.
This latest move by the BSC will surely boost the overall popularity of the entire BNB ecosystem.
Not gonna lie, I am holding some BNB and it feels good. Honestly, holding some of my crypto on Binance feels safer than holding it on most self-custody wallets.
Whether or not BNB can outperform Solana and all the other blockchains, I am not the one to say. But I will say that I think some people are underestimating BNB, CZ & Binance as a whole.
It seems that CZ, even though he has stepped down as the official CEO of Binance, is obviously still active in the crypto space & community surrounding BNB and its network.
I am going to keep an eye out for BNB, interesting times are ahead.
Thanks for reading!
