Binance News: BNB Price Soars Amid Growing Adoption of Binance Smart Chain

Binance Coin (BNB) has seen a significant price increase in recent days, fueled by the growing adoption of Binance Smart Chain (BSC) and its decentralized exchanges (DEXs). Here’s a closer look at the key developments driving this surge.

Binance Coin: TVL, On-Chain Activity Rise, Will Price Hit $700?

Binance Coin (BNB) has gained strong momentum in recent days, recording a price increase of over 25% in the past week. The rise comes as Binance Smart Chain (BSC) dominates decentralized exchange (DEX) trading volumes and total value locked (TVL) climbs. According to Master of Crypto, BSC has become the top-ranked blockchain for 24-hour DEX trading volume, indicating increased adoption of Binance’s ecosystem. PancakeSwap, the leading DEX on Binance Smart Chain, has also become the highest earning DEX in the market.

$CAKE Price Set to Surge Further with Upcoming BNB Chain Update

PancakeSwap ($CAKE) surged 45% this week ahead of a significant $BNB Chain update, leading to a surge in trading volumes. The token is currently priced at $2.38, with a 24-hour volume of $603.48 million and a market cap of $641.10 million. Despite a slight 2.64% drop, a reversal pattern suggests a potential breakout if the $4.42 resistance is broken, targeting prices between $7-$10.