Crypto Recap
BNB Chain Weekly Recap | Jun 13th- 19th, 2022
This BNB chain Weekly Recap is provided solely for informational purposes and does not constitute investment advice. Last week was a bad week for the market in general and the BNB chain ecosystem in particular. The price of $BNB has lost nearly 30% of its value and fell to its lowest level since March 2021. The last week on the system did not have too many new updates.
NETWORK GROWTH
Total Value Lock
The total value locked on the BNB chain has decreased over the past week. The TVL of the current ecosystem is around $5.72 billion, down roughly from 25.7% last week. The market went into a downtrend, causing the money on the ecosystem to be significantly withdrawn.
Stablecoin Supply
The total supply of stablecoins on the BNB chain is currently $8.58B, down approximately 7.34% from $9,26B to $8.58B.
In which, $BUSD accounted for 74.06% with a supply of $4.82B, and $USDT accounted for 20.4% with a supply of $1.34B. The rest are other stablecoins accounting for about 6%.
Total Transaction
This week, the BNB chain ecosystem has 28,647,419 transactions, an average daily transaction of 4,092,488 transactions. Down approximately 2.4% from last week, with the number of transactions in week 23 being 4,194,187 transactions. When the market is sideways, trading becomes less attractive.
Validator / Node
The number of Validators on the BNB chain still remains at 21 active validators.
Unique addresses
The number of unique BNB chain addresses continued to grow significantly this week. Specifically, there are now more than 169,023,774 unique addresses in the BNB chain ecosystem. The number of new addresses created this week is 1,599,375, The number of new addresses created this week is about 22.38% more than the number of new addresses created last week.
Active addresses
BNB chain addresses were active from Jun 13rd to 20th, with around 900,000 active addresses per day, an decrease of about 8.28% from the number of active addresses per day of week 23. The number is low, especially on the last day of the week, Jun 20, with 789,457 active addresses. And the weekly high was Jun 13 with 1,002,601.
% Staking/circulating supply
BNB’s staking percentage of total circulating supply is currently 11.32%.
HIGHLIGHT EVENTS
Nansen adds support for BNB Chain NFTs
Like on Ethereum, many of these dashboards are available for FREE for Nansen Lite subscribers! The list of dashboards included in this release are NFT Paradise (Market Overview & Mint Master), NFT God mode, NFT Item Profiler, and Market Trends. This coverage will enable users to discover opportunities, perform due diligence and make strategic decisions when investing in BNB Chain-based NFT projects.
More information: click here
BNB Chain Extends the MVB V Program Registration Deadline
BNB Chain, extends the registration deadline of the Most Valuable Builder (MVB V) Program to July 8. The community-driven network also reminded Web3 enthusiasts about the curriculum of what to expect from the program’s fifth iteration.
- The MVB V program exists to help projects develop and grow on BNB Chain through investment, coaching, and network support.
- The MVB V program will commence in three phases.
- Due to high demand and the need to support more projects, BNB Chain extended registration from June 24th to July 8th.
- The program curriculum incorporates intensive coaching sessions and workshops for 6-8 weeks.
- Since the first iteration in 2021, many projects have received funding and support from BNB Chain. CryptoBlades, ApeSwap, BiSwap, etc., are among the top projects that benefited from the innovative program.
- In the meantime, applications are ongoing and interested projects team members should fill out the form HERE.
DeFi Lego
DEX
Proposal to Increase CAKE Trading Fee Buyback and Burn
Proposal to Increase CAKE Trading Fee Buyback and Burn was passed. Right now, of the 0.25% trading fee, 0.075% of the fee is sent towards CAKE buyback and burn. with the extra 0.0075% coming out of treasury allocation – reducing the CAKE trading fee allocation that enters the treasury from 0.03% to 0.0225%.
More information: click here
Maximizing $CAKE Earnings in Bear Market with Duet Protocol
Duet Protocol has made a new farm strategy available to users to maximize $CAKE earnings with $ebCAKE. the ebCAKE or Extendable Bonded CAKE strategy ensures that you enjoy up to twice the yield on your $CAKE staking while at the same time unlocking the liquidity of your stake by issuing a receipt token quarterly
Some advantages of $ebCAKE are as follows:
- With staked ebCAKE, you can earn a high yield on a $CAKE syrup pool as well as in bDuet incentives.
- It is possible to sell a portion of the proceeds or sell your staked $CAKE early with liquidity offered on the PancakeSwap secondary market (stakers on the official site do not have the option to sell their earnings, all earnings are compounded automatically with no option).
- Additionally, users can utilize ebCAKE LP to earn trading fees, and in the future, ebCAKE can serve as collateral in a variety of DeFi protocols, other than Duet.
More information: click here
Apeswap introducing Jungle Bills: Driving Long-Term Value Alongside Partners
To give the community more options to put their tokens to use and support new projects. On June 16, 2022, at 1800 UTC, ApeSwap will begin offering Jungle Bills: a robust and sustainable product offering yield for buyers and sustainable liquidity for partners.
Like BANANA-yielding Treasury Bills, Jungle Bills offer a time-locked value for the community as a whole. Apeswap is launching with five top-tier partners, offering both stability and growth for buyers. Our first partners are NFTY labs, Telos Foundation, Mogul, HotCross, and CEEK.
More information: click here
ApeSwap Joins Brave Wallet to Drive DeFi Adoption
To make the transition easier, ApeSwap is integrating with one of the most trusted Web3 browsers online today. Effective immediately, Brave Wallet can now connect with the ApeSwap protocol to let users tap into the next generation of financial innovation.
More information: click here
Lending/Borrowing
The Venus Protocol and Brave Wallet integration is now live
The Venus Protocol and Brave Wallet integration is now live. This is another major milestone in our mission to bring DeFi to the masses.
Liquidity Optimizer
Beefy Finance Vaults Offer Promising APYs Amid Instability
Beefy Finance has introduced new vaults amid market tensions that offer attractive return rates.
They are as follows:
- The FTM-BNB vault launched on June 14 on the BNB Chain network currently offers an APY of 63.52%.
- On the same day, the AVAX-BNB vault was launched on BNB Chain, showing a current APY of 37.42%.
- An APY of 9.05% is currently offered by the USDT/USDC/DAI stablecoin vault launched on the Moonbeam network.
- The xcDOT-GLMR vault launched on Moonbeam on June 15 currently offers an APY of 461.26%.
- The USDC.mad-GLMR LP vault launched on Moonbeam on the same day — showing an APY of 538.78% at the time of writing.
- Currently, the newQuick-MATIC LP pair launched on the Polygon network has an APY of 170.60%.
- In contrast, TUSD-USDC has a current APY of 8.45%.
- The WBTC.mad-GLMR launched on the same day on Moonbeam maintaining an annual yield of 551.14%.
More information: click here
Game/NFT
Thetan Arena Releases Summer Bo
Thetan Arena, a MOBA PlayAndEarn project, sold 100 Summer Boxes within the first 20 minutes of their sale.
Users not only get a sure Chef Octopus Hero, but also stand a chance to get one of three different summer vibes skins for Culien, El Dragon, and Meiko. There will only be 499 boxes sold in this event and the sale will run until June 21st.
More information: click here
Verdict
Above is the important information in the past week on the BNB chain ecosystem. Crypto winter has arrived, it’s also time to purge projects. Good projects stay and bad projects go. Everything is just beginning. Also, keep an eye on Coincu for upcoming developments on the BNB chain. Can ecology get through this bad period?
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
Find more information about the BNB chain
Website: https://www.binance.com/en
Whitepaper: https://www.binance.org/#smartChain
Twitter: https://twitter.com/binance
Telegram: https://www.binance.com/en/community
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Marcus
Coincu Ventures
Author: Andy
