Binance Smart Chain (BSC) has taken the lead in terms of fee revenue in the last 24 hours, according to recent data. This surge is attributed to the network’s growing popularity, driven by rising activity and a boost in decentralized finance (DeFi) applications. Key insights highlight that BSC’s fees reached $9.28 million between September 29th and October 5th, surpassing other blockchains, including Hyperliquid L1, which was close behind with $1.5 million in fees. The surge in network activity is also reflected by the rise of BNB price above $1,300, fueling investor confidence. This momentum has drawn significant attention to BSC as investors actively engage with its derivatives market. Notably, Binance’s open interest for BNB surpassed $2.7 billion in just 24 hours. This increase indicates a bullish sentiment and potential for further price movement. However, short liquidations are on the rise, suggesting that market dynamics may be approaching a turning point with expectations of a pullback.