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the most used blockchain April-June 2021

Binance Smart Chain: the most used blockchain April-June 2021


Binance Smart Chain (BSC) has some impressive numbers, claiming first place as the most used blockchain from April to June 2021. 

The overview is provided by DappRadar with its report that establishes BSC as the new leader, especially in terms of unique active wallets (UAW), with an average of 421,854 in the second quarter of this current year. 

Significant growth when considering that these numbers represent a 400% increase over the previous quarter

PancakeSwap, seems to be the “golden goose” of the Binance Smart Chain in the world of decentralized finance or DeFi. Indeed, thanks to it, the BSC is the most widely used blockchain for decentralized applications or dApps. 

In the spotlight, however, are also Non Fungible Tokens (NFTs) and GameFi, with numbers growing sharply. 

PancakeSwap (CAKE), besides being the most used dApp on all blockchains, is also the leading protocol on the Binance Smart Chain driving 28% of the total locked value (TVL) of BSC, equivalent to a whopping $7 billion. This is followed by 1464 dApps on BSC that could increase in size. 

And, in fact, the second BSC dApp appears to be Autofarm, an automated Yield farming DEX aggregator. Thanks to its attractive pool pairs that enable auto-farming, Autofarm attracted in June 2021 alone, 20,800 unique daily wallets on average, an increase of 252.8% month-on-month and 395.7% quarter-on-quarter. 

The queen of dApps, PancakeSwap, on the other hand, has attracted more than 5 million unique wallets and raised $1 trillion in total volume. 

Binance’s BSC records competing with Ethereum in DeFi

Ethereum, still the leading blockchain in DeFi, especially in terms of Total Value Locked (TVL) , could soon see a future competitor in Binance’s BSC record numbers. 

Indeed, the gap with DeFi’s leading player is narrowing, especially in the last three months. And this is happening despite the general collapse of the crypto market, which began in the very first days of May 2021. 

High regard for BSC, considering that its record day was precisely on 12 May with 1.02 million UAW. 

Not only that, while by market capitalization Ethereum (ETH) surpasses Binance Coin (BNB), the two blockchains and their dApps report different numbers. 

In fact, PancakeSwap’s numbers are higher than those of Ethereum’s main dApps in DeFi: Uniswap, Compound and MakerDAO.

The growing trend of NFTs and GameFi developed on BSC

When it comes to collectible tokens, the trend for NFTs based on BSC continues to grow

BakerySwap, the leader on BSC in this sector, has offered BAKE’s NFTs which have recently been among the most expensive NFT sales. For example, BakerySwap Combo #128 sold last June for 115,000 BAKE or about $458,000.

If we look at the Gamification of DeFi (GameFi), a sector that combines DeFi’s typical features with gaming NFTs, here too the trend in BSC use seems to be growing

In general, Mobox, one of the best dApps employing a GameFi framework, counted 22,600 unique users with a total TVL of over $100 million in June 2021 alone. 

This report, referring to Q2 2021, adds to the previous report referring to Q1 2021 and seems to confirm that the Binance Smart Chain continues to grow in its usage. 

 






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