Crypto markets bounce again from final week’s rout, with Bitcoin and Ether reclaiming $70,000 and $3,600, respectively.
Because the rivalry between the Ethereum and Solana communities heats up, BNB Chain quietly beat each by way of buying and selling quantity.
Each day buying and selling quantity on BNB Chain, the Layer 1 blockchain backed by Binance, surpassed $2.2 billion on March 24, accounting for over 1 / 4 of the full quantity on decentralized exchanges tracked by DeFillama.
That places it forward of Ethereum and Solana, which have been battling for the highest spot amid the continued memecoin mania on the latter, for the primary time since Could 2023.
Veteran decentralized alternate PancakeSwap continues to dominate buying and selling exercise on BNB Chain, processing over $1.3 billion value of trades within the final 24 hours throughout its V2 and V3 iterations.
Prime tokens embody the USDT stablecoin, BNB, the community’s native token, VENOM, a lately launched Layer 1, and a memecoin referred to as Cat in a Canine’s World (MEW).
The rising exercise comes after BNB has greater than doubled its market capitalization since Binance agreed to a multi-billion dollar settlement with the SEC in November.
Bitcoin Reclaims $70,000
Crypto markets proceed to construct on final week’s constructive momentum, with Bitcoin hitting an intraday excessive of $71,420. The world’s most respected cryptocurrency is up 8% prior to now seven days.
In the meantime, Ether briefly traded above $3,600 for the primary time since March 18 and is at the moment altering palms for $3,580.
At this time’s large movers embody Layer 1 blockchains Aptos (APT) and Web Laptop (ICP), that are up 15%, together with Solana-based memecoin DogWifHat, which has surged 16%.
