DWF Labs, one of most influential market-making and VC firms in Web3, highlights recent upsurge of BSC activity
BNB Smart Chain, a Binance-backed smart contract platform built around Binance Coin cryptocurrency, is witnessing impressive growth in recent weeks. By trading activity and user onboarding metrics, it outshined both major rivals Solana and Ethereum .BNB Smart Chain saw its TVL increase by 6% in seven days only, outperforming other major programmable L1s. Such calculations were shared by DWF Ventures, a VC arm of major market maker. BNB ecosystem's top DEX, PancakeSwap, generated $2.
As noticed by DWF Ventures' report, strategic expansion into meme coins, bringing fresh verticals into the ecosystem and a number of positive news about BNB and Binance were three crucial catalysts that contributed to BNB Smart Chain's growth last weeks. BNB Smart Chain bets big on promising fresh verticals for ecosystem expansion, including DeSci, DePIN and RWA, the report concludes. The ecosystem metrics immediately benefit from launches of fresh altcoins in these spheres.Besides that, Binance Wallet just introduced zero trading fees for all trading pairs for six months, potentially attracting traders and increasing trading volume on the platform.
Additionally, Emirati state-owned investment firm MGX announced a $2 billion investment into Binance, making the single largest investment into a crypto company. Amid this positive context, DWF Labs yet again reaffirms its commitment to supporting trailblazing startups, leveraging BSC fast and cost-effective platform for dApp building.
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