Crypto users betting on the outcome of the snap election to determine the next Prime Minister of Canada appear to be favoring a Liberal Party victory as residents head to cast their votes.

As of April 28, cryptocurrency betting platform Polymarket gave current Canadian Prime Minister and Liberal Party candidate Mark Carney a 79% chance of defeating Conservative Party candidate Pierre Poilievre in the race for the country’s next PM. Data from the platform showed users had poured more than $75 million into bets surrounding the race, predicting a Poilievre or Carney victory.

Polymarket chances favor the Liberal Party’s Mark Carney over the Conservative Party’s Pierre Poilievre to be the next Canadian Prime Minister. Source: Polymarket

The odds suggested by the platform, as well as those from many polls, show a nearly complete reversal of fortunes between the two candidates after former Prime Minister Justin Trudeau resigned in January. Trudeau and, by association, many in the Liberal Party, faced criticism over the handling of Canada’s housing crisis and questions about how he would face US President Donald Trump’s then-proposed tariffs.

Following Trudeau’s resignation, Trump stepped up rhetoric disparaging Canada, repeatedly referring to the country as the US’s “51st state” and Trudeau as its “governor.” The US President also imposed a 25% tariff on goods imported from Canada in March. The policies seem to have led to increasing anti-Trump sentiment in Canada, with many residents booing the US national anthem at hockey games and making comparisons between the president and Poilievre.

This is a developing story, and further information will be added as it becomes available.

What to know:

Altcoins have lagged Bitcoin year-to-date, but BNB price shows relative resilience, trading only 10% lower than the previous cycle’s all-time high.

BNB Chain shows a robust activity, consistently ranking third in daily transactions, active addresses, and TVL, while leading in the number of DApps.

The blockchain’s weakest point is its revenue, which still lags compared to competitors.

Altcoin price action has been underwhelming for much of the 2023-2026 cycle, pushing many crypto traders to focus primarily on Bitcoin. However, with moderate optimism returning to the markets, a closer look reveals that not all altcoins are struggling. In fact, the total altcoin market cap remains solidly above $1 trillion — $1.17 trillion, to be exact — and its 9% surge over the past week offers a glimmer of hope.

Among the major altcoins, BNB Chain (BNB) stands out for its relative strength and stability. Currently ranked as the fifth-largest cryptocurrency by market cap, behind BTC, ETH, USDT, and XRP, BNB is valued at around $89 billion. Some analysts see it as one of the most resilient altcoins in the current cycle.

As João Wedson, the founder of Alphractal, pointed out, using data from the cryptocurrency drawdown heatmap:

“While most altcoins have suffered drops of up to -98.5% from their all-time highs, BNB stands out alongside BTC as one of the least affected cryptocurrencies — and more impressively, it’s one of the few that has reached a new all-time high this cycle.”Price drawdown heatmap by crypto. Source: Joao Wedson, CryptoQuant

For Wedson, this resilience isn’t just about price action — it’s also backed by solid foundations, such as BNB Chain’s well-developed ecosystem and BNB’s rising role in DeFi. He calls BNB “one of the rare altcoins with real utility, strong fundamentals, and growing adoption, making it the strongest-performing altcoin alongside BTC.”

Is BNB really the most resilient altcoin?

Looking solely at price performance among top smart contract platforms’ coins tells a more nuanced story. BNB has indeed reached a new all-time high during this cycle, but so have XRP (XRP), TRX (TRX), and SOL (SOL) — though in Solana’s case, the new high barely surpassed its 2021 peak by just 1%.

When comparing current prices to their previous cycle highs (mostly from May or November 2021), BNB is now down only about 10%. That’s significantly better than ETH (ETH), which is down 63%, and Solana, down 40%. However, XRP (+19%) and TRX (+49%) have performed even better.

BNB/USD, ETH/USD, XRP/USD, SOL/USD, TRX/USD 1-day chart. Source: Marie Poteriaieva, TradingView

One of BNB’s monetary advantages lies in its low dilution risk. According to Messari’s Market Cap/Fully Diluted Valuation (FDV) ratio, 96.51% of BNB’s supply is already in circulation. That’s in line with Ethereum (99.93%) and TRX (99.96%), indicating a relatively low risk of future token inflation. In contrast, Solana (86.33%) and especially XRP (58.33%) could face significant future dilution.

While BNB’s price performance has been relatively strong, it alone doesn’t entirely justify its reputation for resilience; fundamentals offer deeper insight.

BNB Chain activity drives the altcoin’s value

Beyond speculation, BNB’s value is defined by its use in BNB Chain — an umbrella term now used to define both BNB Smart Chain (the original blockchain) and the Beacon Chain (used for governance and staking). BNB Chain specializes in gaming, DeFi, launchpads, and other large-scale consumer DApps. More recently, it also got into the memecoins game, soaking up some of Solana’s volume. Being the key altcoin on the leading centralized exchange also helps.

According to Messari, BNB Chain processes around 4 million daily transactions on average, ahead of Ethereum (1 million), XRP Ledger (1.8 million), but behind Tron (5.5 million) and far behind Solana (54 million non-vote transactions daily). 

In terms of daily active addresses, BNB Chain also performs well with about 1.1 million, beating Ethereum (384,800) and XRP Ledger (55,600), but trailing Tron (2.4 million) and Solana (3.7 million).

Where BNB Chain really shines is in the number of DApps. According to DappRadar, BNB Chain supports 5,686 DApps — more than Ethereum (4,987), with Polygon (2,402) trailing in third. This reinforces Wedson’s assertion of a “massive” BNB ecosystem and places BNB Chain in a strong position to lead the charge once Web3 fully matures. 

BNB Chain also ranks 3rd in total value locked (TVL) in DeFi, with $5.8 billion, behind Ethereum ($50.5 billion) and Solana ($8 billion), according to DefiLlama. The blockchain seems to pay special attention to developing its DeFi activity. On March 24, its DEX trading volume even managed to briefly outpace all other blockchains, hitting a weekly total of $14.3 billion.

Related: ‘Vitalik: An Ethereum Story’ is less about crypto and more about being human

BNB Chain revenue has room for growth

Blockchain revenue plays a crucial role in its long-term sustainability and growth. It is commonly assessed through the total transaction fees generated.

In 2024, Ethereum led the pack with $2.5 billion in fees, followed by Tron ($2.1 billion), Bitcoin ($923 million), and Solana ($751 million), according to CoinGecko. BNB Chain closed the top 5 with $194 million. Since XRP has little utility, its blockchain’s revenues were only $1.1 million.

So far in 2025, the revenue rankings are shifting, but BNB Chain remains 5th. In the past 30 days, Tron has taken the lead with $272 million in fees, followed by Solana ($34.7 million), Ethereum ($20.8 million), and BNB Chain ($17.1 million), per Messari data. 

Overall, while BNB may not always top the charts across every metric, it consistently holds a respectable third place among the leading smart contract platforms. Its healthy activity metrics contribute to maintaining relative price stability within the sector. 

The blockchain’s revenue remains its weakest point compared to competitors. However, if the promise of Web3 is realized and adoption accelerates, BNB Chain’s dominance in the DApp space could become its biggest strength.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Opinion by: Steven Smith, head of protocol and applied research, Tools for Humanity

Blockchains were designed as systems of trust that are transparent, decentralized and accessible. The age of AI has, however, introduced significant new challenges. Nearly half of all internet traffic is generated by bots, with up to 80% of blockchain transactions now automated and AI agents accounting for most onchain activity. 

While some bots serve legitimate and helpful purposes, others — like those used for airdrop farming and fake account creation — clog networks, drive up fees, and monopolize space and resources.

It’s up to humans to protect the blockchains we know and love, ensuring that people aren’t unfairly disadvantaged by automated systems, insulated from the effect of maximal extractable value attacks and exploits, and free from the need to pay significant gas fees to be included in a block.

The bot takeover is already here

AI bots are becoming more integral to networks and capable of more sophisticated exploits, dominating trading volumes, driving up gas fees, and manipulating decentralized finance (DeFi) markets.

In some cases, networks have seen failure rates surge past 75% due to bot-induced congestion. Even Ethereum’s mempool is increasingly flooded with automated transactions, forcing human users to compete for scarce block space.

The problem extends beyond blockchain networks — it’s affecting the entire economy. AI-powered bots are set to disrupt traditional banking and financial services, threatening the very foundations of how money is managed and transactions are conducted.

It’s only a matter of time before bad actors begin deploying new AI-driven fraud tools at scale, creating an unprecedented security nightmare for financial institutions, businesses and users alike. 

This has already begun. AI-driven botnets fueled a 55% surge in distributed denial-of-service (DDoS) attacks against the banking and financial services industry during 2024.

If action isn’t taken, humans risk ceding control of both decentralized and traditional financial systems to automated systems optimized for speed and scale — not fairness or accessibility. 

Scalability alone won’t solve this problem

So far, the response to these issues has focused on scalability. Layer-2 solutions, rollups and high-performance execution clients make transactions faster and cheaper. 

Scaling without a focus on human users, however, leads to unintended consequences. Lower fees mean attackers can cause much grief for little cost, and bots can flood networks more easily. Meanwhile, faster transactions mean AI traders can outcompete human investors even faster.

Recent: Don’t be afraid of quantum computers

This has played out repeatedly already. A spam attack on Zcash severely disrupted its blockchain. During its token launch, Manta Network suffered a DDoS attack, slowing withdrawals and frustrating users. On Ethereum, bots have been used to manipulate gas prices during high-traffic periods, resulting in delayed transactions and higher transaction fees for real humans.

While scalability is critical, it’s equally important to prioritize another fundamental element of blockchain design: proof-of-human.

Proof-of-human infrastructure

Proof-of-human infrastructure is a mechanism that digitally verifies a person’s humanness and uniqueness. This is key to keeping control of blockchain systems in human hands, giving real people the power to ensure blockchains don’t become automated playgrounds for bots — especially as AI agents continue to scale. 

Proof-of-human systems ensure blockchain architecture evolves with a human-first approach. Networks should allocate guaranteed block space for verified human users, ensuring that automated trading bots don’t push out essential transactions.

Introducing gas subsidies for human users can also prevent them from being priced out during periods of extreme network congestion. Optimized execution clients can enhance efficiency while implementing safeguards against bot-driven spam. 

Blockchain architecture has made remarkable strides in scalability, interoperability and security. We also still need to ensure positive experiences for humans. As an industry, it’s fundamental to provide the ability to distinguish between real people and bots online to ensure the sector can continue to grow in the long run. 

The choice is ours. We can allow unproductive bots to take over our networks, pushing out human users and undermining the core promise of decentralization. Or, we can implement the necessary parameters to keep blockchains human-centric and ensure greater control over productive bots, ensuring fairer access, security and sustainability.

Now is the time to act. The future of blockchain and bringing more humans onchain depend on it.

Opinion by: Steven Smith, head of protocol and applied research, Tools for Humanity.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.