INTRODUCTION
Weekly Recap Series of Cryptodaily.io will be updated weekly with all the information readers need on Binance Smart Chain: On-chain data analysis, weekly winner, project of the week, updated from projects, partnership, etc…
Our Weekly Recap Series will consist of 4 main parts as follows
Data on-chain: Update and analyze data located on the blockchain such as Daily transactions, Unique addresses, Gas price, etc
Panorama of the ecosystem: Analysis of the Binance Smart Chain ecosystem last week
Important updated
News partnership
DATA ON-CHAIN
Overview
The Binance eco market continues its low volatility consolidation this week, with prices trading between a high of $290 and a low of $330. As the market tests the lows of a significant on-chain support zone, transaction activity remains depressed and HODLing behavior shows remarkable resilience.
Daily Transactions
Binance Smart Chain continues to grow as it’s becoming more and more popular among the cryptocurrency community with an impressive increase in the number of transactions in the past week.
Over the past week, BSC regularly sees more transactions than Ethereum. This culminated on 19th June as the network saw a whopping nearly 5 million transactions compared to 1.1 million on Ethereum. x4 times higher
Average Gas Price
No more unusual increase in gas charges. Binance Smart Chain eco seems to have stabilized. Transactions increase but gas fees stay the same
Completing one transaction from wallet to wallet costs about $0.02 on the BSC, if utilizing the Ethereum Network, this would cost about $3
Token Tracker
Top Token Transfers
The PancakeSwap Token $CAKE still rules the landscape along with $BUSD and the newcomer BunnyToken. $Bunny. Another notable newcomers are Alpaca.finance ($ALPACA), Chi Gastoken ($CHI), and FEGtoken ($FEG), which rank in the top 20
Top 20 Tokens By Volume
Not much volatility when the first ranks are BUSD and USDT. Next is the tire 1 tokens like BNB, CAKE, BTC, ETH, ADA, etc…
BNB Performance
Source: Tradingview
After bitcoin fell below the strong support zone of $31,000, the price quickly fell 6%, even breaking through the strong psychological level of $30,000. This effectively pulled all altcoins following bitcoin.
Right now Bnb is testing a local resistance zone. At the moment, I prefer to watch the market and look for good entry opportunities.
But if Binance makes a quick strong drop into the area marked below, with a big increase in volumes, that would be the best buying opportunity.
Panorama Of The Binance Smart Chain Ecosystem
DeFi on Binance Smart Chain:
As cryptocurrency continues its downtrend, finding alternative sources of yield becomes more appealing in a low-interest-rate environment.
Binance Smart Chain Total Value Lock
Total value lock decreased by $3B from last week while the number of transactions increased from 3 million transactions to 5 million transactions show traders and investors continue to seek opportunity amongst low volatility market conditions but be more careful and timid
Lauchpad on Binance Smart Chain
Take a look at the projects with the highest ROI in the Binance Smart Chain ecosystem. BSCPAD had an impressive ROI x329, and with the hype of NFT play to earn MyDeFi pet might break ATH again
Gaming on Binance Smart Chain
MyDeFiPet is in 1st place with the most users, following is BladesCrypto with a huge gain in users recently – 1189.32%.
The “play-to-earn” movement is an emerging phenomenon in the past few weeks, wherein players NFT games collect rewards within the game that can later be converted to real cash it reached new heights during the downtrend of crypto market.
Important Updated
Binance Smart Chain has become a force in the blockchain industry. In Q2 Binance Smart Chain continues to be the leader in terms of unique active wallets averaging 421,854 and was the most used Blockchain
The #BscLearnAndEarn round 2 has started: Win a Share of $18,000.
On June 29, we announced the first round of BSC Learn & Earn where we teamed up with 4 popular projects building on BSC. In total, users who participated in the first round received over $25,000 in tokens and rewards.
BEP20 – AXS is now live on BSC’s BToken Listing.
Binance Awards 2021- BSC Project of the Year
Congratulations to the best #BSC projects of the year in 6 different categories!Cúp
Wallet – @TrustWalletApp
DeFi – @PancakeSwap
Infra – @bscscan
NFT marketplace – @bakery_swap
Collectible & Gaming – @BunnyPark_BSC
Security – @certik_io
Alpaca.finance completed 9 audits which is the highest number of audits for any BSC project
Q3 Metahero roadmap is on track
App release (Android &iOS)
Negotiation with Tier 1 CEX’s
v3 Metascanner construction
Community voting implementation
Metahero podcast
Partnerships with artists
Groundwork for HEROSwap
Partnerships
Coin98 Wallet integrates with PancakeSwap, bringing the benefits of our multi-chain wallet to more users worldwide
Alpaca.Finance 11th Grazing Range #NFTfarming pool x WaultSwap
Stack Alapaca in Grazing Pool to earn Wault and Stack Wex in Wault Pool to earn Alpaca with + 80%Apr
MOBOX x APESwap Legendary NFTs & NFT Interoperability
The MOBOX Platform will support all ApeSwap NFTs in all our games, this again is a testament to true NFT cross-platform interoperability.
SafePal Wallet announced 3rd partner Moonpot
During the SafePal WHO X Moonpot campaign, all the whitelist participants will share a 1,000,000 $POTS reward pool and also earn extra yields from the win-win lottery from Moonpot. Scroll down and learn how to participate
SUMMARY
Binance Smart Chain has closed the gap with Ethereum:
Although Ethereum is still the leading blockchain in terms of TVL, Binance Smart Chain has established itself as a DeFi referent, narrowing the gap significantly in the last three months. The TVL in Binance Smart Chain has increased by 28.87% quarter-on-quarter despite facing several challenges during May, specifically the crypto crash and the Venus liquidation. DeFi competition in the Binance Smart Chain heating up with a lot of new impressive projects like: Biswap, Wault, ApeSwap, etc…All in all, the Binance Smart Chain looks as competitive as ever. Despite facing several challenges like the Venus liquidation or the Garuda exploit, the network still leads the industry in terms of usage
Let’s wait and see what Binance Smart Chain will achieve in next Weekly Recap issue.
Source : bscdaily
