Binance Smart chain is currently going parabolic. Binance Smart chain is going crazy because of PancakeSwap; many users are piling onto PancakeSwap due to the low gas fees, speed and this is the kind of experience users want.
PancakeSwap has eclipsed the Ethereum network in 24-hour transactions.
PancakeSwap has processed over two million transactions, whereas Ethereum only did 1.5 million transactions in 24 hours.
With the rise in interest and many people piling into the Binance smart chain and PancakeSwap, the Binance smart chain became overloaded. They had an all-time high number of people using the site at a particular time. Binance smart chain is starting to feel the pressure of having many users coming on to their platform. Binance smart chain hit an all-time high of 8.1 million transactions yesterday. Many people want exposure to DeFi and cryptocurrency except that the current user experience of Ethereum is crippling for non-rich users.
The current market capitalization of PancakeSwap is around 4.2 billion dollars. What is interesting is not only the market capital but the daily volume that PancakeSwap is doing. The PancakeSwap exchange is doing 4.5 billion dollars in trading volume in the last 24 hours.
Several high potential coins will be launching soon on the Binance smart chain.
The first is BSC Station; it builds a fully stacked DeFi Protocol with an NFT auction on the Binance smart chain. BSC Station will be tapping into some of the biggest hype mechanisms currently in the cryptocurrency space. BSC Station will be doing NFT auctions; their platform will allow you to buy and sell different NFTs. They will provide a platform for NFTs on the Binance and will be doing a BSC Stater Pool, which will help high-quality NFT and non-NFT projects distribute tokens out to that wider audience.
Another gem on the list is Refinable. Refinable is an NFT marketplace for the Binance smart chain. It allows you to create, discover, trade and leverage any digital content. NFTs have been a massive trend and will be a major part of verifiable digital ownership for art, in-game items, and the use cases for NFTs.
Many people are excited about Refinable because of the investors behind it; they have Mr. Beast and Binance. Mr. Beast is one of the biggest Youtube channels out there, so this is a big deal in Refinable getting many audiences.
The next gem is Smoothy Finance. Smoothy Finance allows you to swap with zero slippage between different dollar coins. If you want to swap Binance USD to USD Tether, you can do that with no slippage. The support of the Binance smart chain is very important for Smoothy Finance because they are an early mover on the Binance smart chain.
Smoothy Finance allows you to do an exact dollar-to-dollar transfer without you loosening money to slippage. It allows you to get low slippage situations where you can do big stable coin transfers and have it happen very seamlessly. Because it is on the Binance Smart chain, it is fast and cheap.
