PancakeSwap V2 has turn into the highest decentralized software (dApp) within the BNB chain, main in weekly buying and selling quantity with a whopping $6.1 billion. This information was reported by Phoenix, a outstanding crypto media outlet. It tracks the efficiency of various dApps on totally different blockchain networks. Excessive buying and selling volumes function proof that PancakeSwapV2 is the main DEX within the BNB chain.
TOP #BNBCHAIN DAPPS BY WEEKLY VOLUME
#PancakeSwapV2 #PancakeSwapV3 #JumperExchange #VenusProtocol #0xProtocol #1inch #DODO #OKXNFT #ParaSwap #StargateFinance pic.twitter.com/7AiF7OGs0a– PHOENIX – Crypto Information & Evaluation (@pnxgrp) October 4, 2024
PancakeSwapV3 follows with $2.63 billion in weekly quantity on BNB Chain
Following PancakeSwap V2 is PancakeSwap V3 with a big $2.63 billion in weekly buying and selling. This exhibits that the newest model of PancakeSwap stays common and increasing, with new enhancements to make buying and selling sooner and extra handy. Regardless that it isn’t as busy as V2 when it comes to buying and selling quantity, PancakeSwap V3 remains to be probably the most vital tasks within the BNB Chain ecosystem.
Subsequent in line is Jumper Alternate with a weekly quantity of $482.46 million, which additionally helps the growing use of decentralized platforms throughout the chain. One more reason for a excessive score is that Jumper Alternate helps to trade property between totally different blockchains with none problem. The second main DeFi dApp known as Venus Protocol has obtained a weekly buying and selling quantity of $459.26 million. Being a decentralized cash market, Venus Protocol gives borrowing and borrowing providers, which has enabled it to draw excessive liquidity.
Different common dApps embody 0x with $169.26 million and 1inch with $103.51 million in weekly buying and selling quantity. It’s equally vital for each protocols to facilitate liquidity aggregation, and to permit customers to get the most effective token swap charges throughout a number of DEXes. Liquidity protocol DODO reported a weekly buying and selling quantity of $33.75 million and stays probably the most energetic dApps within the community.
OKXNFT, ParaSwap and StargateFinance strengthen BNB Chain’s DeFi ecosystem
Buying and selling quantity in non-fungible tokens (NFT) soared this week as OKXNFT, an NFT buying and selling platform, posted buying and selling quantity of $17.11 million. ParaSwap, a DEX aggregator, had a weekly buying and selling quantity of $15.98 million and StargateFinance, a cross-chain bridge, of $13.14 million.
Though they deal with decrease volumes in comparison with the main dApps, these are important to the BNB Chain ecosystem as they provide particular and useful providers resembling NFT trade and cross-chain operations. Total, the information reported by Phoenix paints an image of the rising BNB Chain ecosystem and rising use of dApps.