Binance Smart Chain DeFi TVL to Reach Record Highs

by in DeFI News

Binance Chain DeFi TVL

The crypto exchange Binance and its native token BNB have been making new records. Data shows that the TVL (Total Value Locked) in DeFi on the Binance Smart Chain (BSC) has reached record highs standing at around $43 B.

Related: Binance launches NFT marketplace

It's worth mentioning the noticeable growth of the decentralized exchange PancakeSwap (CAKE) which operates on the BSC. Over the previous 24 hours, it surpassed Uniswap (UNI) and Sushiswap (SUSHI) in terms of trading amounts for the first time ever. The transactions' sum of the DEX surpassed $1.6 M. Recently its native token CAKE hit a new all-time high of $44.18. It now trades at around $39.8.

Binance Coin has also been surging. In mid-April, it broke above $650. Presently, BNB is close to surpassing the previous record as it trades at around $635.

It is the third-largest cryptocurrency by market cap with the amount being above $97.4 B.