Binance’s BNB Smart Chain has experienced a significant increase in Decentralized Exchange (DEX) volume activity recently, temporarily surpassing Solana. According to data, its weekly volume surged by almost 40% to $5.4 billion, positioning it as the third-largest player in the industry.

For three consecutive days, from August 21 to August 23, Binance Smart Chain (BSC) managed to flip Solana, handling over $922 million, $1.13 billion, and $908 million in volume, respectively. BSC also outperformed Arbitrum, a popular Ethereum layer-2 network, during this period.

However, BSC’s gains were short-lived as Solana reclaimed its position on August 24, with both networks handling $725 million and $723 million, respectively.

Top Performers in the Last Seven Days

A closer look reveals that PancakeSwap led the volume on BSC in the past week, managing over $625 million. Other notable performers included Dodo, Uniswap, and Woofi, with their volumes increasing by 45%, 60%, and 108%, respectively.

DEX volume on #BSC has surpassed #Solana for three consecutive days (Aug 21, 22, 23), ranking second only to #Ethereum.

BNB Token’s Rally

BSC’s recent performance coincided with a rally in the Binance Coin (BNB) token, which reached a high of $597.30, its highest point since July 22. At its peak, BNB was up by nearly 50% from its lowest point this month, marking it as one of the top-performing cryptocurrencies in the top ten.

A potential catalyst for this price action was news that Changpeng Zhao, Binance’s founder, was moved to a halfway house ahead of his release next month. He is currently serving a four-month sentence for violating anti-money laundering laws.

Total Value Locked in DeFi

Additional data indicates that BSC’s total value locked in Decentralized Finance (DeFi) increased by 7.20% to $4.5 billion. This makes BSC the fourth-largest player in the industry, following Ethereum, Tron, and Solana, which have $51 billion, $8.7 billion, and $5.35 billion, respectively.

Tron’s Performance

Tron’s network also showed strong performance, with its weekly DEX volume soaring by over 457% to $1.28 billion. This surge was driven by the popularity of new meme coins within its ecosystem. Most of this volume was attributed to Sun.io, whose Sun Token has surged by over 357% from its lowest point this month.

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