Following the positive impact of previous gas fee cuts, BNB Chain validators are now proposing a 50% reduction as prices remain above the $1,000 mark. Developers argue that lowering gas fees will see BNB Chain compete favorably with Solana and Base amid a projected surge in ecosystem activity.
50% Gas Fee Slash For BNB Chain In The Works
According to an X post, BNB Chain validators are proposing an initiative to halve gas fees on the network, a 50% cut from present levels of 0.1 Gwei. The plan involves lowering the minimum gas price to 0.05 Gwei as part of efforts to strengthen the BNB Chain for traders and developers.
As part of the proposals, validators are also keen on accelerating block intervals from 750ms to 450ms, increasing throughput and finality. Back in April 2024, BNB Chain’s gas fees fell from 3 Gwei to 1 Gwei before undergoing a staggering 90% cut in May 2025 from 1 Gwei to 0.1 Gwei.
Following the previous two gas fee cuts, BNB’s daily transactions surged by 140% to surpass 12 million. Meanwhile, swap-related transactions are up by nearly 70% following the latest gas fee reduction in May as traders flock to the blockchain.
Buoyed by the effects of the reductions, validators are keen on undertaking another 50% cut in gas fees, noting that the fundamentals are in place to support the move. For starters, the proposal suggests that staking APY will remain above 0.5% while downplaying the risk of network congestion due to low fees.
“As long as staking APY remains above 0.5%, BNB Chain should strive to have the lowest gas fees possible,” read a proposed community principle.
The team disclosed that the network is currently running at less than 30% of its capacity, providing enough leg room to adjust in the event of congestion. According to the statement, BNB Chain has demonstrated the capacity to handle triple the network’s state data without strain.
For BNB Chain, the long-term goal is to reduce gas fees to around $0.001 per transaction, putting the network in a strong position to compete with Solana and Base.
BNB Price Holds Above $1000
After reaching an all-time high of $1,080 at the start of the week, the BNB price is currently trading at $1,016, exhibiting a strong show of consolidation. Over the last week, BNB has gained nearly 7% while the monthly chart indicates a double-digit percentage gain for the fifth-largest cryptocurrency by market capitalization.
Last week, Binance founder Changpeng Zhao cited falling gas fees as the primary reason behind BNB’s blistering price performance. Furthermore, Zhao noted that the shuttering of the SEC case against Binance and the recent interest rate cuts by the US Federal Reserve have powered BNB to new peaks.
Source: https://zycrypto.com/bnb-price-holds-above-1000-amid-proposal-to-slash-gas-fees-by-50-and-accelerate-block-speed/
