Binance Smart Chain DEX, PanCakeSwap, Up 120% in April 2021 as it Pushes BNB to New All-Time Highs
PanCakeSwap, the largest decentralized exchange on the Binance Smart Chain (BSC), has been on a roll in April 2021 as it hits new milestones in token value and total valued locked.
As of this writing, PanCakeSwap token ($CAKE) has rallied over 120% in April 2021 alone with total value locked (TL) now above $10.5 billion.
At the same time, BNB, the native token that powers the BSC, has hit a new all-time high above $635 as of this writing.
The massive growth in daily transactions on BSC surpassed that of Ethereum for the first time in April 2021 by over 500% with over 9 million daily transactions compared to Ethereum’s 1.5 million transactions on April 21, 2021.
While Ethereum is still way ahead of BSC in terms of TVL and valuation, BSC is gaining ground fast having seen its TVL increase 30x in Q1, 2021.
The adoption of BSC is turning out to be pivotal for the crypto space as the chain finds genuine adoption in what is seen as a multi-chain future reality as more blockchains like Solana and Cardano gain ground in 2021.