BNB Chain Surpasses Solana in DEX Market Share, Trading Volume Reaches $1.64B

BNB Chain has emerged as a key player in the DEX market (Decentralized exchange), recently surpassing crypto giant Solana in its trading volume.

BNB Chain, known for its stellar performance in the DEX (Decentralized exchange) market, has outpaced crypto giant Solana in its trading volume. According to DeFiLlama, BNB Chain achieved a remarkable 24-hour trading volume of approximately $1.637 billion. This marks a 13.3% increase from the previous week, showcasing the platform's strength and stable development. This update comes amidst the lackluster performances by mainstream blockchains like Solana and Ethereum.

DeFiLlama data highlights that BNB Chain’s 24-hour trading volume on Tuesday was $1.637 billion, a 13.3% rise compared to the previous week. In contrast, Solana’s DEXes had a combined 24-hour trading volume of around $944 million, showing a 26.7% decrease week-over-week.

Furthermore, the total trading volume on BNB Chain's DEXs over the past seven days, starting March 14 and ending March 21, amounted to $4.32 billion. This contribution is significant considering that the total seven-day trading volume across all DEX chains was $11.9 billion during the same period. Essentially, BNB Chain's DEX markets accounted for over 30% of the decentralized trading volume.

This week's trading volume on BNB Chain is largely attributed to the increased memecoin activity. A community poll on the platform regarding future token listings and the price rallies for new tokens like "Mubarak" have also generated market buzz.

Earlier this month, the BNB chain ecosystem witnessed an influx of investors following several initiatives by Binance CEO Changpeng Zhao. These initiatives include consistent airdrops and launch pool events for the BNB chain, which helped to retain investors. For instance, the memecoin $TUT saw an explosion in price after CEO Zhao shared its promotional video.

As BNB Chain continues to dominate market share and attract more investors, it signals a shift in preference within the DeFi space. With multiple planned developments and a rapidly growing consumer base, the BNB chain is poised to maintain its leadership in the DEX markets.