Binance Smart Chain was the most used blockchain from April to June 2021
2 min readBinance Smart Chain (BSC) boasts several impressive numbers and from April to June 2021 is in the first place as the most used blockchain.
BSC: the most used blockchain
The DappRadar platform has identified BSC as a new leader, especially in terms of unique active wallets (UAW), with an average of 421,854 in the second quarter of this year. These figures represent a 400% increase over the previous quarter.
PancakeSwap seems to be the “golden goose” of Binance Smart Chain in the world of decentralized finance. This makes BSC the most common blockchain for decentralized applications (dApps). However, the focus is also on unmistakable tokens (NFT) and GameFi, while the number is still growing.
PancakeSwap (CAKE), in addition to being the most widely used dApp on all blockchains, is also the leading protocol on the Binance Smart Chain, managing 28% of the total locked BSC value, equivalent to an incredible $ 7 billion. This is followed by 1464 dApps on the BSC.
The second BSC dApp is Autofarm, an automated DEX aggregator for yield farming. Thanks to its attractive pools, which enable automatic farming, Autofarm attracted an average of 20,800 unique daily wallets in June 2021 alone, an increase of 252.8% month-on-month and 395.7% quarter-on-quarter.
PancakeSwap, attracted more than 5 million unique wallets and raised a total of $ 1 trillion.
ETH is still the leading blockchain in DeFi, especially when it comes to Total Value Locked (TVL). However, the gap between the two blockchains is narrowing, especially in the last three months. And this is happening despite the general collapse of the cryptotrhu, which began in the first days of May 2021.
The BSC record day was exactly May 12 with 1.02 million UAW.
While the market capitalization of ETH (ETH) surpasses Binance Coin (BNB), both blockchains and their dApps show different numbers. In fact, PancakeSwap numbers are higher than ETH’s main DeApps numbers in DeFi: Uniswap, Compound and MakerDAO.
As far as collectible tokens are concerned, the trend of BSC-based NFTs is still growing. BakerySwap, the BSC leader in this sector, has offered NFT BAKE, which has recently been one of the most expensive NFT sales. For example, BakerySwap Combo # 128 sold for 115,000 BAKE in June, or about $ 458,000.
If we look at Gamification of DeFi (GameFi), an industry that combines the typical features of DeFi with gaming NFT, there seems to be a growing trend in the use of BSC. Mobox, one of the best dApps using the GameFi framework, recorded 22,600 unique users in June 2021 alone, with a total TVL of over $ 100 million.
This report also modifies the report on Q1 2021 and confirms that the use of Binance Smart Chain continues to grow.
