BNB Chain Leads DEX Volume This Week

BNB Chain has made a strong impression this week by leading the trading volume on decentralized exchanges (DEXs). Specifically, BNB Chain's weekly DEX volume increased by 66.7%, reaching nearly $2 billion within 24 hours. This shows that BNB Chain has occupied more than 30% of the DEX market share for six consecutive days starting from March 15.

This growth is mainly driven by memecoins and speculative trading. In this context, Solana, which used to be the leading network in DEX volume, is facing a decline in trust due to major incidents involving memecoins. Some prominent memecoins such as MUBARAK, BROCCOLI, and TST have contributed to BNB Chain's breakout.

Additionally, decentralized exchanges built on BNB Chain have seen a sharp increase in activity, demonstrating that BNB Chain is consolidating its position in the DeFi space, despite the overall market downtrend.