Binance Smart Chain to Hit $32B Total Value Locked
    • 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.

Source: bscproject.org

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.

Disclaimer Read More

Crypto News Land (cryptonewsland.com), also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

CryptoNewsLand (CNL) is a one-stop online crypto news website that offers the latest happenings in the crypto world.