Binance Smart Chain Witnesses Parabolic Growth and Outperform the Broader ETH Market

Thanks to consistent high-volume transactions on PancakeSwap, BSC activities are now experiencing parabolic growth and haven’t shown any sign of stopping.

Binance Smart Chain Still Experiencing Non-Stop Log Growth

A chart comparison between daily transactions on the Ethereum network and Binance Smart Chain (BSC) shows that BSC growth has been exponential. The network has drastically outperformed ETH.

According to Etherscan and BscScan data as of April 28, 2021, Ethereum’s daily transaction volume was about 1.6 million, while that of BSC was over 7 million. A Lot of  BSC’s parabolic growth can be attributed to the low fee’s experienced on the BSC alongside the explosive growth of PCS. Ethereum transaction costs (also called gas fees) are a leading reason why BSC surpassed Ethereum daily transaction volume and unique active wallets. As these gas fees rose, traders had to switch to alternatives such as BSC, Tron, and other similar blockchains. Many of these users found themselves on PancakeSwap which facilitates more than 20% of the network’s transaction volume. The market cap of $CAKE, PancakeSwap’s token is now over $4 billion and has risen by more than 46-fold this year alone.

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