The Venus DeFi Landing Project has a total value of Locked Funds of $ 10.4 billion.
The next largest TVL project powered by Binance Smart Chain (BSC) is PancakeSwap. His smart contracts are focused on cryptoassets for $ 8 billion.
The total value of funds blocked in the BSC segment is $ 33.2 billion. This is approximately 61% of the current indicator of the "classic" DeFi-ecosystem based on Ethereum, excluding tokenized bitcoins like WBTC and renBTC ($ 12.1 billion).
The acceleration in the growth of the BSC ecosystem indicators is largely due to the meteoric rise in the price of the native ecosystem token - Binance Coin (BNB). Over the past 30 days, the coin has risen in price by more than 100%, reaching third place in the CoinGecko rating. This has positively impacted the value of many BEP-20 assets.
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The revival of economic activity could also have been helped by a drop in the average gas price to about 10 Gwei. This reduced the transaction costs of users in the face of the rising price of BNB.
Ethereum has a 3.5 times lower indicator than Binance Smart Chain - 1.34 million versus 4.86 million transactions per day. This is largely due to the high cost of gas and the still urgent problem of scaling the second-largest cryptocurrency in terms of capitalization.
Earlier, Messari analyst Ryan Watkins called BSC nothing more than a centralized fork of Ethereum.