BNB Chain Ecosystem Tokens See Surge in Trading Volumes Led by FLOKI
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$BNB $FLOKI
In the past 24 hours, trading volumes of tokens within the BNB Chain ecosystem have more than doubled, with meme coin FLOKI leading the gains among larger tokens.
Significant Activity on BNB Chain
The BNB Chain ecosystem has seen a significant boost in activity, token prices, and trading volumes as BNB surged to a record high above $710. According to CoinGecko, BNB Chain-based token trading volumes rose by 124%. FLOKI increased by over 25%, and PancakeSwap’s CAKE token jumped by 15%.
Smaller Cap Projects Shine
Smaller projects also showed impressive gains. Sensi’s SENSI token saw a 900% price increase, with trading volumes climbing from $14,000 on Monday to $100,000 by Wednesday morning.
Increase in Total Value Locked and Inflows
The total value locked (TVL) in BNB ecosystem projects increased by nearly 8%, led by PancakeSwap and Venus, with net inflows topping $2.4 million.
Factors Driving BNB’s Price Surge
Market observers cite several factors for BNB’s price increase, including token burns and lock initiatives. Nearly $400,000 worth of tokens were burned in the past seven days, contributing to the price surge.
BNB Chain’s Potential Highlighted
A Floki developer praised BNB Chain's strengths, noting its speed, scalability, and widespread use, especially outside the Western world. "BNB Chain is fast, scalable, and arguably the most used chain by the majority of the non-Western world," the developer stated.
BNB Chain, originally developed as Binance Smart Chain, continues to be supported by Binance for its development and funding.
