But this doesn’t necessarily signal a shift in long-term dominance, said Alan Orwick, co-founder of Quai Network.“This pattern reflects the cyclical nature of speculative interest across blockchain ecosystems, which ultimately brings renewed energy to DeFi.”“This rotation appears to be influenced by regional preferences, with increased Asian market participation driving activity on Binance-related platforms,” Orwick said. Lin of SynFutures added that the key difference between Solana and BNB Chain’s momentum is the audience: “Solana has become more native to crypto traders, whereas BNB Chain draws a more global, retail-first crowd.
Related: Insider trading allegations surface as TRUMP memecoin floods Solana DEXsBNB Chain’s reversal of fortuneBNB Chain launched in 2020 as Binance Smart Chain, positioning itself as a low-cost, fast and EVM-compatible alternative to Ethereum at a time when high gas fees and limited L1 options made Ethereum less accessible.
Source: DefiLlama“DEX volumes are a clear signal of user engagement and interest in DeFi, and sustained activity on a platform like PancakeSwap suggests that retail interest in BNB Chain and its memecoin ecosystem is growing,” Barlow said.
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