Weekly Recap Series of Cryptodaily.io will be updated weekly with all the information readers need on Binance Smart Chain: On-chain data analysis, weekly winner, project of the week, updated from projects, partnership, etc.
We believe this series by deep-dive and synthesizing will give you an overview on BSC every week.
Our Weekly Recap Series will consist of 4 main parts as follows
- Data on-chain: Update and analyze data located on the blockchain such as Daily transactions, Unique addresses, Gas price, etc
- Panorama of the ecosystem: Analysis of the Binance Smart Chain ecosystem last week
- Important updated
- News partnership
Binance Smart Chain has handled about 3 million transactions a day on average, lower than last month. In May BSC achieved 11 million Daily Transactions (ATH) and gradually decreased. The advantage of BSC is cheap gas fees and fast transaction speed, but it is being competed by Polygon (Matic) with an average tx count of 6 million transactions a day.
It seems that the growth of new unique addresses on bsc is slowing down. Only 390,721 new addresses were created last week, a modest number compared to Erc20 and Matic
Average Gas Price
Experiencing congestion and gas prices spike up to $0.8-$1/Transaction at the moment BSC network speed has returned to normal and gas prices are at $0.15-$0.3/Transaction. This is a necessity for BSC to gain the trust of new users and old users comeback
BinanceCoin ( BNB/USDT) is forming a potential double bottom with the neckline at 305. If price breaks above 1. 40 with strong volume, I will be looking to take a long position. Need to wait for the confirmation before entering.
Source: bscscan.com, tradingview.com/
2. PANORAMA OF THE BINANCE SMART CHAIN ECOSYSTEM
DeFi on BSC:
BSC’s Total Value Lock is reaching $24B which is still less than Ethereum’s $78B. Erc20 has always been the first monument of DeFi so the item that surpasses the current Erc20 is still far away from BSC
Let’s take a look at the Top 10 Total Value Lock projects at BSC:
In our opinion, the BSC ecosystem is developing very strongly, most of the top 10 are projects built directly on BSC, not bridges from another chain. Proving that BSC has built trust from the community, many projects, coders, and builders are building and working hard on BSC.
Defi puzzle pieces like DEX, AMM, Lending, Yeild Opt, Derivatives etc. were all present
The Transaction Volume of DApps steadily increasing, showing no signs of falling even though the market is downtrend and token prices are mostly falling shows that the belief in DEFI at BCS is still great
Launchpad on BSC
Incubator for IDO projects to thrive, currently the number of Launchpad on BSC has reached 30, much more than other ecosystems like erc20, sol matic
3. Important updated
- The Binance NFT Marketplace is now live to present a full NFT marketplace experience. Users can now participate in the Auction, purchase a Mystery Box and trade in the Marketplace
Binance launch their first premium auction titled ‘Genesis’, the ‘Mystery Box’, and also revealed the marketplace for the recently announced “100 Creators”
- ElevenFinance Vaults were exploited and funds were lost $4.5 million they are making attempts to recover return the fund to the investor
- President of El Salvador NayibBukele has announced each registered citizen of their wallet app will receive $30 in free#Bitcoin
- Binance Smart Chain reached 700 million transactions
- FUD: Binance can no longer continue to service Ontario-based users (Canada) Soucre
Binance can’t operate in the UK, warned the FCA. Soucre
Japan’s Finance Regulator Warns Binance Is Operating Without Registration Source
- Binance Smart Chain announcing the #BscLearnAndEarn campaign with @hotcrosscom @Biswap_DEX @CryptoTycoon_GP and @xwg_games ($25.000 pricepool)
Cointelegraph x Binance NFT: Binance launches a celebrity NFT charity campaign with Cointelegraph artists. The auction will be hosted on Binance’s new #NFT platform.
Infstones x Binance Smart Chain: InfStones team provides infrastructure support including Node Service and Archive Data Access for all projects and developers in the #BSC ecosystem
ProjectGalaxyHQ x CreamdotFinance: The C.R.E.A.M Finance Listing Committee Lands On Galaxy
@faraland_io x @gamestarter_co: New game listing | Introducing Faraland’s vast universe of RPG fantasy war on Gamestarter
@Oxbull5 x @Oiggroup
Binance Smart Chain is one of the most developed ecosystems in crypto world with backers in Binance and Cz, because of fast transactions, low fees, and direct support from Binance team, BSC has fully completed the puzzle in its ecosystem.
Hope the information CryptoDaily’s provides can help the audience better in the investment process and always DYOR before APE!