- DeFi protocols under Binance Smart Chain are about to hit $32 billion TVL.
- Top DeFi protocol under the said blockchain ecosystem is Venus, followed by PancakeSwap.
- Binance Coin has regained its gains amid recent crypto bloodbath.
The total value locked (TVL) of decentralized finance (DeFi) protocols on Binance Smart Chain (BSC) is about to reach $32 billion. This shows that the DeFi competition Between Ethereum and BSC is getting tighter by the day.
BSC DeFi protocols held almost $21 billion during the start of April. The figure has grown by $10 billion in less than a month.
Meanwhile, the majority of DeFi applications on DeFiPulse have a combined TVL of $56.24 billion. It has yet to surpass its current all-time high (ATH) of $62.3 billion TVL.
Aside from the TVL, BSC also recorded 66 million active addresses and 8.1 million transactions in the last 24 hours, showing that the ecosystem is thriving. Topping the list is Venus with $10.75 billion TVL, followed by PancakeSwap at $5.41 billion TVL.
Meanwhile, Binance Coin (BNB) has once again regained its footing after a recent crypto bloodbath. After momentarily dipping until about $430, BNB is now back at the $550-$600 range. At the time of writing, BNB price is at $588.49, according to CoinGecko. On the other hand, Bitcoin remains at the $55,000 mark, with no imminent signs of returning to $60,000.
