BNB, The Binance Crypto, is Skyrocketing, and BSC is Dominating The DEX Market.
After the “Black Monday” where Binance’s crypto was traded at 409 dollars, BNB is starting to recover. The rise has been smooth but sure, signaling the return of confidence in Binance’s currency. The main topic lies in the recent breakthrough of the BNB Smart Chain, surpassing Solana in terms of trading volume on decentralized exchanges (DEX).
BNB: A crypto rally that defies expectations
Of course, there is bad news like Binance and CZ facing a money laundering complaint. But it should also be noted that Binance Coin (BNB) recorded an impressive performance, reaching its highest level since late July at 583.90 dollars. This rally was fueled by a marked increase in open interest on futures contracts, which reached over 607 million dollars.
To crown it all, BNB Smart Chain has surpassed Solana in trading volume on decentralized platforms (DEX). The daily volume of BSC jumped by 15% to 921 million dollars, against a 21% decrease in volume for Solana.
It is interesting to note that most of this growth comes from popular DEX like PancakeSwap, Dodo, Woofi, and Wombat Exchange.
Binance: When BNB Smart Chain outpaces Solana
BNB Smart Chain has taken a lead over Solana, a remarkable achievement in the crypto world. On August 22, BNB recorded a 3% increase in the number of active wallets, reaching 414,000 unique users, while transactions on the chain jumped by 8% to 725,000.
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