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BNB Chain’s expanding ecosystem continues to solidify its position as a major DeFi contender in 2025, with liquidity layer solution THENA emerging as a standout contributor to the network’s growing financial infrastructure.
As BNB Chain maintains its position among the top blockchain ecosystems with a total value locked (TVL) of $5.5 billion on BSC and $25.21 million on opBNB, THENA’s specialized liquidity solutions are playing an increasingly vital role in the ecosystem’s competitive positioning.
According to Messari’s Q4 2024 report, BNB Chain ranked fourth in global DEX volume with $117.57 billion traded, trailing only Solana ($305.56 billion), Ethereum ($204.27 billion), and Base ($128.69 billion). Within this thriving DEX landscape featuring over 71 exchanges, THENA has distinguished itself alongside pioneer Pancakeswap as one of the ecosystem’s most significant trading venues.
THENA’s spot DEX has gained attention for its concentrated liquidity approach, offering users more capital-efficient trading with reduced price impact. The platform’s swap engine leverages the ORBS liquidity hub to tap external liquidity sources, resulting in more favorable execution for traders compared to traditional automated market makers. This technical advantage provides meaningful differentiation in a competitive DEX market where execution quality increasingly matters to sophisticated traders.
Beyond its spot trading capabilities, THENA has developed a comprehensive liquidity-focused ecosystem that includes multiple complementary components. The platform’s perpetual DEX named ALPHA enables leveraged trading, while its social trading platform ARENA fosters competitive trading engagement. An upcoming launchpad called WARP further extends THENA’s service offerings within the BNB Chain ecosystem.
