DeFi adoption on the Binance Smart Chain reaches new highs By Cointelegraph
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Business - 2 weeks ago

DeFi adoption on the Binance Smart Chain reaches new highs By Cointelegraph


DeFi adoption on the Binance Smart Chain reaches new highs

Decentralized finance (DeFi) has taken a well-deserved break from the spotlight over the past couple of months after being one of the hottest sectors at the start of 2021, but recent growth on several top platforms may hint at another DeFi run in the near future.

While projects that operate on the (ETH) network continue to deal with wild fluctuations in gas fees and transaction times, several that operate on the Binance Smart Chain (BSC) have seen an uptick in protocol activity and token value over the past week.

XVS/USDT vs. CAKE/USDT vs. LINA/USDT 4-hour chart. Source: TradingView
XVS/USDT 4-hour chart. Source: TradingView
CAKE/USDT 4-hour chart. Source: TradingView
Total value locked on PancakeSwap. Source: Defistation
VORTECS™ Score (green) vs. CAKE price. Source: Cointelegraph Markets Pro
LINA/USDT 4-hour chart. Source: TradingView