According to a new report by The Block’s research team, the total locked value (TVL) of Binance-affiliated blockchain network BNB Chain has reached 4 billion. BNB Chain thus became the second largest DeFi network after Ethereum.
DeFi tracking platform DeFiLlama, on the other hand, confirmed that BNB Chain’s share in the DeFi industry has increased since May. However, BNB’s TVL value fell 63% during the year. The market share of the BNB network in the industry was recorded as 10.4%.
BNB remains the biggest competitor of Ethereum with its low transaction fee and high speed. However, its 10.4% market share is still far from 58% of ETH. BNB Chain hosts 448 different DeFi projects instantly. Binance officials, on the other hand, drew attention to the fact that BNB is a pioneer in the gaming industry in a different report. According to the new research report published by Binance Research, BNB is the biggest dominator of the crypto gaming industry.
According to the published chart, the share of BNB in the gaming industry is 36.6%. BNB is followed by Ethereum with 20.2%, Polygon with 11.8% and Solana with 6.9%.