BNB Chain (BSC) has officially overtaken Solana in 24-hour decentralized exchange (DEX) volume. According to DeFiLlama and other ecosystem trackers, BNB Chain recorded roughly $6.051 billion in 24-hour DEX volume, compared to Solana’s $4.737 billion.
This surge highlights BNB’s growing dominance in on-chain trading, supported by record perpetual futures volume exceeding $100 billion, leading chain fees, and high liquidity across major decentralized markets.
PancakeSwap drives major trading volume
A large portion of BNB’s trading activity comes from PancakeSwap which alone had a volume of $4.533 billion in 24 hours. The chain is also successful due to low transaction fees, quick block finality of 1.875 seconds with the Maxwell upgrade and high activity in meme coins, DeFi, and real-world assets (RWA).
The incentive programs, such as a liquidity campaign of $100 million and the transfer of stablecoins at no charge, have also made traders more interested in the ecosystem.
BNB token hits new milestones
The total value locked (TVL) at BNB has now reached $17.1 billion, and the number of people who use it daily exceeds $4.2 million in October. The token itself is currently at a new all-time high of $1,295, increasing more than 113% in 2021, as per DeFiLlama data.
At the time of writing, BNB was trading at $1,284.15 with a 24-hour trading volume of nearly $11.93 billion and a market cap of $178.73 billion, making it the third-largest cryptocurrency by market capitalization, ahead of XRP, according to CoinMarketCap data.
As Solana still remains a strong player in NFTs and overall chain activity, BNB Chain is a leader in DEX-specific trading, liquidity, and incentives, which is indicative of its increasing influence in the decentralized finance ecosystem.
Also Read: BNB Breaks $1,300 and Secures Spot as 3rd-Largest Crypto
