PancakeSwap continues to dominate the chain, but the health of Binance Smart Chain shows through the dog fight down in the rankings.
Pancake Heavy, Bottom Even
Binance Smart Chain (BSC) continues to show a healthy array of projects, from decentralized exchanges to the play-to-earn (GameFi) non-fungible token (NFT) games. Users are flocking to several projects and we’ve got your top five with the help of DappRadar.
In the top five rankings listed from DappRadar’s most used projects, there are two project types. We have two decentralized exchanges, with PancakeSwap and ApeSwap. The other three are GameFi projects: MoBox, CryptoBay, and CryptoBlades.
PancakeSwap continues to maintain complete hegemony over the entire system, but the bottom four are completely up for grabs. The list of projects two through four is definitely closer than it seems, as fluctuations happen fast across decentralized finance (DeFi).
DappRadar tweeted the photo below on September 9th, with the unique emergence of LootCraft. The project appears to have been created this past week, and it has since fallen out of the top five, down to number sixteen.
Weekly Top Five
The top five projects by users are clear through the past seven days. LootCraft is replaced by CryptoBlades at number five, and ApeSwap moves up above CryptoBay.
These top five projects are the only ones with over 40,000 users on BSC. In comparison, the top projects on Ethereum and Polygon do not have as healthy user distributions as BSC.
The two DEXes–PancakeSwap and ApeSwap– obviously have locked the most total volume. Users flock to exchanges to stake liquidity to earn rewards, the true essence of DeFi.
MoBox looks like the game of choice as users seem drawn to the lovable box creature arcade battle.CryptoBay still seems only to attract high rollers with its high entrance fees, while Cryptoblades has suffered a fall in favorability due to high gas fees.
Details About the Top Five:
7-day users: 1.25 Million
Token (Price, USD): CAKE (19.67)
Volume: $5.41 Billion USD
7-day users: 148,790
Token (Price, USD): MBOX (5.56)
Volume: $17.55 Million
7-day users: 67,000
Token (Price, USD): BANANA (3.20)
Volume: $534.25 Million
7-day users: 51,450
Token (Price, USD): PEARL (0.1528)
7-day users: 49,670
Token (Price, USD): SKILL (20.10)
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.