- PancakeSwap leads other DeFi dApps with the highest trading volume on BNB Chain
- PancakeSwaps user base also grew by 24% while its daily transactions increased by over 60% in the last 30 days
- Other DeFi dApps like Four Meme and Aster also saw a significant rise in the number of users and daily transactions within the same timeframe
DeFi platform PancakeSwap has eclipsed other DeFi dApps on BNB Chain in terms of trading volume, with its daily transactions also rising by over 60%. PancakeSwaps 30-day user base rose by 27% to roughly 960,000, while the number of transactions reached 11.18 million within the same timeframe. Other DeFi dApps also recorded a rise in various metrics, including the number of users, trading volume, and daily transactions, indicating that DeFi users are increasingly embracing BNB Chain-based DeFi platforms.
Four Meme Users Rise by 905%
According to DappBay , a platform that tracks BNB Chain dApps, Four Meme recorded the highest rise in users over the last 30 days among the top 10 DeFi platforms. The leading meme token issuance platform on the blockchain saw its 30-day user base increase by 905% to 808,000.
Aster, a decentralized exchange, had the second highest increase in the number of users, who rose by 521% to 151,000. Asters number of transactions also skyrocketed by 580% to 340,000. Radiant Capital is also among top DeFi platforms that have registered a rise in trading volume and number of users..
Its Only a Slice of the Action
According to BNB Chain, these projects [indicate] real on-chain traction and represent just a slice of the growing activity on the blockchain. BNB Chain has 14.31 million daily transactions and 2.03 million daily active accounts.
The rise in DeFi activity on BNB Chain comes four months after the network launched a memcoin solution to drive web3 adoption. It also comes six months after PancakeSwap unveiled a feature to ease token creation on the blockchain.
With BNB Chain recording a rise in DeFi activity, its to be seen whether the growth will affect DeFi activities on Ethereum and Solana .
