After remaining at the top as the best performing crypto sector since the start of 2021, Decentralized finance has remained out of the spotlight for quite a time now. However, the significant growth rate in the DeFi market suggests that another big run for DeFi might be around the corner.
On the other hand, the platforms based on Ethereum continue to face challenges in fees and long transaction periods. Meanwhile, in the last few weeks, numerous others that operate on Binance’s smart chain have noticed a significant growth in activity and value.
Three main projects based on the Binance chain that has been growing in their value and activity with their decentralized protocols include LINA Linea, Venus, and Cake. Two weeks ago, XVS saw a bullish run following the news to add the popular meme coin to the money market.
Later on, on April 29, it recorded another soar after the company announced its reward tokens and NFT airdrop. Not only that, but the news of XVS listing on Crypto.com also helped the bullish run from $72 to a whopping $124 – almost seventy percent surge.
Moreover, the token exchange platform PancakeSwap rallied a staggering $102 percent over the last week, reaching its all-time high of $44 from $21. Besides that, data from the tradingview suggests that LINA also climbed an impressive 70 percent surge in its value. Per the data, its daily trading volume on April 30 stood at a whopping $196 million.
Disclaimer: This article is not trading advice. TheDechained holds no liability for investments made on the basis of this information. We recommend independent research before making a decision to invest.
