Network of Binance cryptocurrency exchange Binance SmartChain, continues to consolidate its position in the market. Especially Ethereumu (ETH) This rival network, trying to outdo it from every angle, has at least managed to do so in one respect.
BSC Manages to Overtake ETH
According to the transferred data Binance Smart Chain The total number of transactions on its network increased 378%, surpassing Ethereum in February. During February on the Ethereum network, which still tops the list in terms of the total value of locked tokens 32,738.456 transaction has been performed. Compared to January, the number of transactions on the network decreased by 11%.
Binance Smart Chain over the same period 156.512.579 number of transactions were made. Binance Smart Chain, which broke the record with 156 million transactions, left Ethereum well behind in this context. Despite this, the BSC network also saw an 18% decrease in trading volume compared to January 2022.
In January 2022, the total number of transactions on BSC was recorded as 192 million. Ethereum and Binance Smart Chain networks are currently known as the two largest DeFi-focused networks. In addition, it was seen that Binance will give more importance to the world of DeFi with its recent announcement. Binance, PancakeSwap‘I (CAKE) He made an announcement implying that they would support him and create a DeFi world together. This shows that Binance actually wants to continue its DeFi-focused work.