Two days ago, we witnessed a very significant increase in the BNB currency by more than 50%, as its price exceeded $ 342.88, the BNB currency, which is one of the largest currencies in the cryptocurrency market and is the base currency of the Binance platform.
BNB currency reached a new and amazing summit for many investors, as it rose by 50%, thanks to the increasing interest in decentralized platforms, relatively new decentralized financing projects, Defi, and the most important of which is the Pancakeswap platform based on the Binance Smart chine network BSC.
The Pancakeswap platform has started to pose a real threat to its Ethereum-based competitors, due to traders fleeing many platforms, including Uniswap, to Pancakeswap due to the low network fees, comfortable trading and high lending rates.
As Binance CEO Changpeng Zhao remarked on Twitter:
@PancakeSwap flipped Uni as the highest volume DeFi Swap. That was so fast. What an achievement. You guys rock! 👏👏👏