BNB Chain is surpassed by Arbitrum in daily DEX volume.
What happened just now? Within the last day, DEX volume on Arbitrum surpassed BNB Chain! What protocol is responsible for this enormous growth?
Upstart Layer-2 Protocol Jumps Up Rankings
Arbitrum, a Layer-2 Ethereum solution that is growing in popularity, has achieved a notable feat by surpassing BNB Chain in terms of 24-hour volume for Decentralized Exchanges (DEXes).
Arbitrum outpaced BNB Chain, which had $410 million in DEX transactions, according to DefiLlama, which tracked the data.
BNB Chain has experienced $2.7 billion in DEX volume for the week compared to Arbitrum’s $2.1 billion. Both chains’ DEX volumes have increased over the past week, though Arbitrum’s has done so more quickly (11% versus 3% for BNB).
Protocols like Camelot (69% increase in the last week), GMX – Swap (87%) and DODO (304%) are the ones driving the DEX volume on Arbitrum.
On BNB Chain, DODO (52%), Wombat Exchange (134%), Level Finance (119%) and Ellipsis Finance (202%) are the growth leaders.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
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