High costs in the Ethereum network have shifted DeFi projects to the Binance network. Thanks to the prominent projects, the BSC network, which is flooded with investors, is happy.
It never occurred to anyone that Binance exchange, which quietly launched its own blockchain last year, would move stones in the market. The Binance network has exploded, especially with investment farms.
BNB is up
Investors gave up as the Ethereum network became heavier, especially due to DeFi projects, and the single transfer fee increased to levels of $ 4-$ 5. In the Binance Smart Chain – BSC network, much lower transfer fees brought an important opportunity.
The BSC network’s eye candy was especially with the Pancakeswap platform. Pancake platform, where investors buy Cake cryptocurrency and share either through locking or by contributing to liquidity It also hosted new projects. Called Initial Farm Offering, interest grew enormously when the related money exploded in the sales of this project.
Farm projects such as mushrooms started to appear in the BSC network, which can be used independently. The reproducible structure of the Pancake platform enabled hundreds of projects to appear on the same interface.
In these farm projects, when the distribution rates of karp, which started with 70000 percent on the first day, were determined, those who wanted to make money in a short way flocked. The farms’ own crypto coins almost flew in intense interest. For example Goose Finance money EGG; It crossed the $ 100 mark with a 10-fold increase. However, projects such as IceCreamSwap and WallStreetSwap disappeared or were hacked for the money of investors. Even interesting projects like Kebab Finance have been seen.
The BSC network unexpectedly grew with these developments. Total investment locked in on farms reached 6 billion dollars. More than 2 million transactions are processed daily. Buying piled up as liquidity and lockout transactions were mostly BNB. Consequently, BNB increased 4 times in a short time like a week and reached the $ 200 limit. Cake money also increased 15 times to $ 12 a month.
The crypto currency craze seems to continue for a while. Investors flock to the farms as if they smell money and increase the ethics in the network. As a result, CZ the Binance owner benefits the most.