Binance’s BNB Smart Chain lately skilled a super increase in Decentralized Exchange (DEX) hobby, momentarily surpassing Solana. According to DeFi Llama, BNB Smart Chain’s weekly buying and selling volume surged almost 40% to $5.4 billion, making it the 1/3-biggest player inside the DEX space.
From August 21 to August 23, BNB Smart Chain outpaced Solana for 3 consecutive days. During this era, it processed $922 million, $1.13 billion, and $908 million, respectively. Additionally, BNB Smart Chain also exceeded Arbitrum, a famous Ethereum layer-2 network.
However, the lead was brief-lived. By August 24, Solana reclaimed its role, with Solana dealing with $725 million and BNB Smart Chain managing $723 million. An evaluation famous that PancakeSwap became the number one motive force of this quantity boom, recording over $625 million inside the week. It was accompanied by Dodo, Uniswap, and Woofi, which noticed volume will increase by forty five%, 60%, and 108%, respectively.
This rise in BNB Smart Chain hobby coincides with a rally in Binance Coin (BNB). The token reached a peak of $597.30, its maximum due to the fact July 22. BNB’s price surged nearly 50% from its current lows, making it one of the top performers most of the pinnacle ten cryptocurrencies. This rate motion may be attributed to the information of Changpeng Zhao, Binance’s founder, being transferred to a halfway house beforehand of his launch next month. Zhao is serving a 4-month sentence for anti-money laundering violations.
In addition, BNB Smart Chain’s overall value locked in Decentralized Finance (DeFi) increased by 7.20%, achieving $4.5 billion. It now ranks fourth in the industry, following Ethereum, Tron, and Solana. Meanwhile, Tron’s community noticed its DEX volume bounce over 457% to $1.28 billion, pushed by means of the recognition of recent meme coins. This quantity surge was focused on Sun.Io, in which the Sun Token surged by way of over 357% from its current lows.
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