BNB Chain takes the spotlight with strong DEX growth and memecoin frenzy

BNB Chain has taken the spotlight in the crypto world this week, with data from DeFiLlama showing a 6% increase in total value locked (TVL)

BNB Chain has been making headlines this week with some impressive stats. According to DeFiLlama data, the chain saw a 6% increase in total value locked (TVL) over the past seven days, even as other major chains like Ethereum and Solana experienced TVL declines ranging from 20% to 50%.

During the same period, BNB Chain's daily decentralized exchange (DEX) volume surged by more than 38%, in stark contrast to the decreases observed on Ethereum and Solana. This volume surge was largely driven by PancakeSwap, the leading DEX on the BNB Chain. On March 17, PancakeSwap's daily volume reached approximately $2.7 billion, momentarily overtaking Uniswap. The surge in activity coincided with a 40% increase in PancakeSwap's token price.

Moreover, Binance is inviting users to "Vote to List" five BNB Smart Chain-based tokens for inclusion on the exchange. The initiative, open to users with verified Binance accounts and a minimum holding of 0.01 BNB during the voting period from March 19 to March 26, 2025, will determine which tokens get listed. A specially curated list of projects, including promising startups and popular memecoins like Broccoli and Mubarak, has been prepared for voting.

Expanding beyond DeFi, the BNB Chain ecosystem is also exploring decentralized science (DeSci), decentralized physical infrastructure networks (DePIN), and real-world assets (RWA). This diversification is seen as a crucial strategy to build resilience and adapt to the evolving market demands.

In other Binance news, the exchange has announced zero trading fees for all trading pairs over the next six months, beginning March 1. This initiative aims to attract new traders and expand the crypto market. Additionally, Emirati state-owned firm MGX is investing $2 billion in Binance, further positioning the exchange for growth.

Finally, the upcoming Pascal Hardfork upgrade on BNB Chain will introduce EIP-7702 smart contract wallets, enabling features like social recovery, paymasters, multi-signature security, and gasless transactions. This upgrade is set to enhance the user experience and security on the chain.