Binance Smart Chain (BSC) reached $ 44,250 Billion. In addition, a total of 25.118 million Binance Coins (BNB) worth $ 15.573 Billion are currently locked in BSC. The remarkable growth of Binance Smart Chain has been visualized by the team at DeFiStation.io as seen in the screenshot below.
Binance Smart Chain could overtake Ethereum very soon
Binance Smart Chain is less than a year old as it was launched in September last year. From the chart above, it can be seen that the Binance Smart Chain’s total value of $ 1.13 Billion was locked (TVL) at the beginning of February.
If we calculate, TVL on the Binance Smart Chain has grown by 39.16 times in 3 months and has increased by roughly $ 15 Billion each month. Such stability in terms of growth means that the Binance Smart Chain could outshine Ethereum in terms of total value locked down within a few months.
At the time of writing and according to DeFiPulse, a total of $ 67 Billion is currently locked in Ethereum.
Looking at the total value of $ 44.25 Billion locked on the Binance Smart Chain, PancakeSwap gets a quarter of that with a $ 10.79 Billion digital asset locked on the platform. Below is a breakdown of the top 10 DeFi protocols on the Binance Smart Chain in terms of total value locked.
- PancakeSwap – $ 10.29 Billion
- Venus – $ 9.62 Billion
- PancakeBunny – $ 7.17 Billion
- Belt Finance – $ 3.15 Billion
- MDEX – $ 2.45 Billion
- Ellipses Finance – $ 2.26 Billion
- AutoFarm – $ 1.58 Billion
- Value DeFi- $ 902 Million
- Nerve Finance – $ 586.54 Million
- Beefy Finance – $ 472.2 Million