Category: NFT News

DEX Trading Volumes on BNB Chain Flip Ethereum and Solana

By Published On: March 26, 20241.5 min readViews: 1360 Comments on DEX Trading Volumes on BNB Chain Flip Ethereum and Solana

Crypto markets bounce back from last week’s rout, with Bitcoin and Ether reclaiming $70,000 and $3,600, respectively.

As the rivalry between the Ethereum and Solana communities heats up, BNB Chain quietly beat both in terms of trading volume.

Daily trading volume on BNB Chain, the Layer 1 blockchain backed by Binance, surpassed $2.2 billion on March 24, accounting for over a quarter of the total volume on decentralized exchanges tracked by DeFillama.

That puts it ahead of Ethereum and Solana, which have been battling for the top spot amid the ongoing memecoin mania on the latter, for the first time since May 2023.

Veteran decentralized exchange PancakeSwap continues to dominate trading activity on BNB Chain, processing over $1.3 billion worth of trades in the last 24 hours across its V2 and V3 iterations.