In recent months, BNB Chain has seen a significant surge in decentralized exchange (DEX) activity, surpassing major networks like Ethereum and Solana.
Growth of Trading Volumes on BNB Chain
BNB Chain's record DEX trading volume reached $14.3 billion weekly, surpassing Ethereum. For six consecutive days since mid-March, it accounted for over 30% of the total DEX market share, and this figure continues to grow.
Role of Memecoins in BNB Chain Activity
One of the drivers of the trading volume increase was memecoins like $MUBARAK and $CHEEMS. These tokens have attracted both retail and institutional investors, leading to increased activity on BNB Chain-based DEXs.
Impact of Zero Fees and TVL Growth
BNB Chain’s growth also benefitted from the introduction of zero-fee trading, attracting more retail traders. Additionally, the Total Value Locked (TVL) on the platform exceeded $5.4 billion, indicating investor confidence.
The rise in activity on BNB Chain signifies increased interest in its ecosystem and its impact on the DeFi sector.
