Metrics on the BNB Chain are positive despite a bearish market sentiment.
Metrics on the BNB Chain
BNB ($BNB), the native token for BNB Chain and Binance is seeing a flurry of activities as on-chain metrics are pointing towards an increasing and sustainable adoption of the fourth highest capped crypto asset.
The trading volume of the biggest cryptocurrency exchange in the space during the first quarter of the year was approximately $5.54 trillion, according to recent research from Be[In]Crypto released on April 25. The activity between January and March 2022 in Quarter 1 saw an 8% increase—around $5.09 trillion— in the trading volume recorded.
Unique addresses on the BNB Chain continue to climb as projects and users are flocking to the BNB ecosystem. The latest info from BscScan, as seen below, show the total of unique addresses surpassed the 1 50 million mark.
Binance, the largest crypto exchange platform, is currently recording a daily transaction volume of $17 billion, at the time of writing, according to CoinGecko. $BNB—the platform’s utility token for discounted trading fees— has driven an increased trading volume on the crypto platform. Overall, Binance pulled in a total trading volume of $5 trillion in Q1 of 2022, a bullish sign that the company’s aggressive marketing is working.
BNB Chain ranks fourth behind Ethereum, Terra, and Avalanche in terms of the Total Value Locked (TVL). It currently has $13.11 billion in TVL. On any given day, Binance usually pulls in four times the spot trading volume of its nearest competitor.
PancakeSwap is still the most dominant protocol on the BNB Chain and the most used decentralized exchange (DEX) across chains with over 200,000 daily users.
What is BNB Chain:
BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain, powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain, which are Ethereum Virtual Machine compatible and facilitates a multi-chain ecosystem. Through the concept of MetaFi, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
For more information on BNB Chain these links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
