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Binance Smart Chain Transaction Volume Increases 30%

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6 Binance Smart Chain (BSC) Metrics You Should Know!

Binance Smart Chain Transaction Volume Increases 30%

Binance Smart Chain Transaction Volume Increases 30%
CONTENT

  • The number of transactions on BSC is constantly growing

  • Ethereum’s popularity is directly related to the development of DeFi

  • Experts believe that Ethereum can become hostage to the popularity of DeFi projects

International consortium of news organizations developing transparency standards.

According to the CEO of the cryptocurrency exchange Binance and the Binance Smart Chain platform, just a few days after the launch of BSC, the number of transactions per day exceeded 400 thousand..

BSC transaction volume reaches 40% of ETH

Binance Smart Chain Transaction Volume Increases 30%

On the morning of September 14, Changpeng Zhao reported that the number of transactions on the Binance Smart Chain platform has reached 10% of the total ETH transactions. San Zhao considered this to be a good result given that the BSC platform was launched a few days ago and the fees on the ETH network remained high..

However, within a few hours, Zhao posted the following tweet, in which he reported that the total volume of ETH transactions had increased to 40%..

I was off with this data. Apparently the last data point accumulates as the day goes on. #BSC transaction volume was 40% of ETH yesterday. # BNB market cap is still 10% of ETH. https://t.co/O4gh3m8O5R

– CZ Binance (@cz_binance) September 15, 2020

At the time of writing, the number of transactions on the network exceeds 400 thousand per day, while the upward trend continues amid the boom in the DeFi field Decentralized finance (DeFi) is financial services built on the basis of blockchain technology that offer users access to an open, efficient and. .. More projects and the industry of profitable mining, where participants in the process receive income in various tokens in exchange for liquidity.

Binance Smart Chain Transactions

Source: https://bscscan.com/

Ethereum has suddenly become the most important token

Binance Smart Chain Transaction Volume Increases 30%

Despite the fact that Binance Smart Chain, launched in September, is rapidly gaining popularity. Ethereum remains the most popular platform for DeFi projects.Since the beginning of the DeFi boom, which fell on the beginning of this summer, the Ethereum blockchain has become one of the most popular for creating smart contracts. The cost of the token went up sharply.

Since the beginning of the second quarter, trading activity in the options market has been steadily renewing highs, and ETH has shown good profitability relative to the beginning of the year. ETH / USD has settled at $ 345 so far, nearly $ 100 above the original $ 250 breakout.

Given that longs for ETH have exceeded 95%, it can be assumed that investors are still showing a consistently bullish attitude towards the second largest coin by market capitalization. The coin’s growth was triggered by the rapid development of the DeFi market. Today, more than half of decentralized finance projects are developed on the Ethreum platform. A side effect of the platform’s popularity among representatives of the decentralized finance sector was the active growth of commissions in its network.. 

Along with the growing popularity of the Ethereum platform, transaction fees have also grown. BeInCrypto reported that after the sharp drop in the ETH rate earlier this month, fees on the Ethereum network continued to rise and showed only a short-term decline. The amount of commission on the Ethereum network was $ 2.59, which is a high figure over the past six months.

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