In recent months, BNB Chain has significantly increased its trading volume on decentralized exchanges (DEX), surpassing Ethereum and other major blockchain networks.
Rise in BNB Chain's Trading Volume
According to DeFiLlama, BNB Chain's weekly DEX volume reached a record $14.3 billion as of March 24, surpassing Ethereum's $9.6 billion. The primary driver of this growth has been active memecoin trading.
Impact of Memecoins on Activity
One key factor in the surge of BNB Chain's trading volume has been the explosive growth of memecoins. Coins like $MUBARAK, $CHEEMS, and $BNX have seen significant price rallies, increasing trading activity on BNB Chain-based DEXs.
Growth Drivers: Zero Fees and Developers
Another growth factor for BNB Chain is the introduction of zero-fee trading for swaps conducted through the Binance Wallet. This initiative helps attract more traders and developers, contributing to the ecosystem's expansion.
The growth in trading volume and increased investor interest in BNB Chain affirm its role as a key player in the DeFi sector. Network development and infrastructure improvements suggest continued success for BNB Chain in the future.
