Binance's BNB Chain, the most widely used Ethereum-compatible blockchain, has seen a significant surge in activity recently. Its native token, BNB, has skyrocketed by nearly 25% since October 28, driven partly by Binance’s involvement in financing Elon Musk’s acquisition of Twitter.
This surge has positively impacted decentralized applications (dApps) on the BNB Chain, particularly PancakeSwap, the leading decentralized exchange (DEX). Over the past week, PancakeSwap has recorded notable growth in:
- Transaction volumes
- Revenue
- Total Value Locked (TVL)
BNB Chain: The Second-Largest Blockchain by TVL
BNB Chain’s TVL grew 15% to $9 billion** in the past week. Meanwhile, PancakeSwap’s TVL surged **12%**, exceeding **$3.3 billion, according to DeFi Llama. This growth outpaced other top-ten DeFi protocols across all major blockchains.
👉 Discover how PancakeSwap dominates BNB Chain
PancakeSwap’s Market Dominance
PancakeSwap remains the most-used dApp on BNB Chain, accounting for:
- 25% of all transactions
- 46% of BNB Chain’s TVL
While Ethereum processes higher-value transactions, BNB Chain handles significantly more daily transactions.
Chef Icy, PancakeSwap’s Head of Business Development, attributes this growth to:
- Increased interest in Binance after its role in financing Twitter’s acquisition.
- Growing demand for PancakeSwap’s services, including its recent Initial Farm Offerings (IFOs).
PancakeSwap Expands to Aptos
In a strategic move, PancakeSwap expanded beyond BNB Chain to Aptos, a high-performance Layer 1 blockchain developed by former Facebook engineers. Key reasons for this expansion include:
- Low transaction costs
- High throughput
- Fast transaction speeds
BNB Chain’s developer, Binance, is also a major investor in Aptos, strengthening the partnership.
PancakeSwap’s governance token holders (CAKE) approved the Aptos deployment via a community vote ending October 21. Two large wallets holding 150M+ CAKE each dominated the decision.
Despite rapid growth (4,000% TVL increase in a week), PancakeSwap remains the third-largest DEX on Aptos, with just under $10M in TVL.
Future Developments
PancakeSwap plans to:
- Deepen Aptos integration
- Launch CAKE natively on Aptos by year-end
CAKE has risen 5% in the past month, reflecting growing investor confidence.
👉 Explore PancakeSwap’s latest updates
FAQ
Why did BNB’s price surge recently?
BNB gained 25% due to increased adoption of BNB Chain and Binance’s role in financing Elon Musk’s Twitter acquisition.
How does PancakeSwap dominate BNB Chain?
It handles 25% of transactions and holds 46% of BNB Chain’s TVL, making it the most-used DEX.
What’s PancakeSwap’s plan for Aptos?
PancakeSwap aims to deepen Aptos integration and introduce native CAKE tokens by 2025.