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
Daily Transactions
On Thursday, July 29, 2021, Binance Smart Chain has achieved a new ATH 13.173.787 Daily Transactions. Increase more than 1 million transactions compared to ATH on May 14, 2021, And 3 million transactions higher than Etherum’s ATH.
The divergence between Binance Smart Chart and Ethereum is now more noticeable than ever, with the daily transaction count on BSC nearly tripling in the past seven days or so.
Average Gas Price
More transactions but gas price is still stable it’s mean Binance smart chain has been well prepared after the incident in May ranges from 0.3$ – 0.8$ per transaction.
Active Binance Smart Chain Addresses
The Ethereum Network saw a daily average of 350.000 active wallets. The BSC tops that with a daily average of about 900.000 active addresses. Ethereum peaked at 601.404 addresses, while BSC peaked at 1.004.137 active addresses in a day. An impressive number.
This is reflected in the fact that Binance Smart Chain has a long time to prepare for the stability of the ecosystem And the trend Play-To-Earn is like a breath of fresh air blowing Binance Smart Chain back to its glory days.
BNB Performance
Source: Tradingview
The price broke through the important level of $326, tested as support, and rose to the level of $350. There, Binance met a very strong resistance zone and corrected towards the 320$ level.
The price has now broken down the uptrend channel and dropped below the important 326$ level. If the price comes back and tests the lower level of the channel as resistance, it could be a good selling opportunity.
Panorama Of The Binance Smart Chain Ecosystem
DeFi on Binance Smart Chain:
The broader crypto markets showing signs of turning back and going faster, BTC has found itself trading over $40,000, and ETH firmly nearly $350.
The battle between bulls and bears remains active as more money than ever remains sidelined.
Total Value Lock
Total Value Lock still growing steadily reach $23,765B The fact allocators turn to DeFi instead of away during downturn speaks volumes for the future of decentralized finance. Defi is still a fertile and potential land.
DEX
During the bull market, stablecoin flows and pools were lead strongly by DEX protocols like CAKE, WEX and APESWAP because of the elevated demand for trades in risk-on pairs, and token farming.
Gaming on Binance Smart Chain
NFTs and Gaming Lead the BSC Rally
In other areas of explosive growth… Over the last few months, crypto gaming hopped onto the scene with Crypto Blades growing market cap of its token $SKILL over the course of July from $1 to $176 price (X176 times). It did this on the underlying game seeing massive adoption.
If you’re still wondering why Binance Smart Chain is a great place for NFT and Gaming, check out the photos below
Top Games on Binance Smart Chain
Crypto Blades is still dominating the ranking with 382.26k users, following is Axie Infinity. Meanwhile, there are arising players in this field which are CryptoZoon, My DefiPet and Mobox.
Important Updated
MVBII Phase Two Top 10
Every winning project will receive:
$10,000 grant
Security QuickScan from Certik
Sponsorship for full security audit
Exclusive incubation workshop with industry experts
PancakeSwap Farm Auctions. Get instant liquidity for your token with CAKE! More information here: pancakeswap.medium.com/introducing-pancakeswap-farm-auctions-get-instant-liquidity-for-your-token-with-cake-924b594e8362
C.R.E.A.M. Finance Launches Boosted Savings with Automated Validator Delegation on July 29 With a single click, users on C.R.E.A.M. Finance are now able to earn validator rewards on top of the current supply APY.
BakerySwap hits 1.000.000 NFT transactions!
MyEtherWallet but support Binance Smart Chain
Binance Smart Chain and Binance Bridge now available in MEW wallet app on Android. MEW was build an optimal, all-in-one mobile experience for Binance Smart Chain users in MEW wallet app for Android.
Impossible Finance present the $IDIA Token Whitepaper and Impossible Finance IDO – IDIA Token Sale times. It aims to guide our community and ecosystem partners on their vision, value proposition, tokenomics, launchpad and roadmap.
SUMMARY
The Binance Smart Chain has experienced a strong rally off the back of a short squeeze returning many coin holders to profitability. While it’s clear in many cases that DeFi activity has been negatively impacted by declining market sentiment and depressed asset prices, the sector remains multiples larger than it was even just to start the year.
In the coming months in quarters ahead it is likely DeFi has its growing up when combined with the trend NFT play to earn.
Binance Smart Chain ecosystem totally ready for this new trend pushing it to the next level.
Source : bscdaily
