Before we get into top BNB Chain projects, let’s understand what a BNB chain is. Formerly known as Binance Smart Chain- BNB chain is a decentralized blockchain network that was released by crypto exchange Binance due to the scalability issues of Ethereum. It benefits developers and creators with high throughput, fast speed, and lower transaction costs enabling them to build decentralized applications (dApps) and web3 projects. The BNB chain has experienced explosive growth over the past few years, with hundreds of new applications deployed. This article will explore the top Binance Smart Chain projects you should look out for in 2023.
Binance Coin (BNB)
Binance Coin or BNB is a native token powering the Binance ecosystem, it was initially launched on the Ethereum network to facilitate trading discounts and improve the user experience of Binance exchange but, later on, as its use cases kept expanding from network’s transaction fee payment to real-world travel booking, and other online services, BNB coin was shifted over to Binance Smart chain.
One unique feature of the BNB coin is its auto-burn mechanism that executes in two parts: permanently destroying BNB spent as gas fees. Secondly, it uses one-fifth of the platform’s profits to repurchase tokens from the market every quarter to destroy them. The BNB coin was launched with a total supply capped at 200 million tokens, so to maintain the value and scarcity of the BNB coin, the auto-burn event will take place until the total supply becomes half or 100 million.
- Binance has launched opBNB testnet- a layer2 scaling solution, which will lower network gas fees to $0.005 and improve throughput to 4000 transactions per second.
Benefits of opBNB:
🔸 Cheaper Gas Fees: As low as $0.005. (Optimism gas fees: $0.05; Arbitrum: $0.1).
🔸 Fastest Transactions: TPS over 4,000.
— BNB Chain (@BNBCHAIN) June 29, 2023
|Market Cap||$36 billion|
|Circulating Supply||155.85 million|
|Vol (24H)||$330 million|
|Founder||Changpeng Zhao (CZ)|
Read More: Top BNB Chain Ecosystem Tokens by Market Cap
BNB Price Prediction
- BNB price performed greatly till May end and traded in a consolidated range of $304-$350 for over two months.
- It has dropped dramatically, losing over 27% of the price following the breakdown from the close zone.
- However, the BNB price has diverted from the oversold region in RSI-14, and it might reach $260 if the market sentiment becomes positive.
Know More: Top Liquid Staking Coins
PancakeSwap is a decentralized exchange based on Automated Market Maker (AMM) protocol running over the BNB chain. This DeFi protocol was launched back in September 2020 and lets users swap their BEP-20 tokens with no intermediaries or third parties involved. PancakeSwap is not just limited to a DEX, it also offers users several other products, such as unique Syrup Pools to stake their CAKE tokens to earn high yield; NFT Marketplace, where users can trade exclusive PancakeSwap NFT collections as well as other BNB chain based NFTs.
PancakeSwap’s CAKE is BEP20 based native crypto token that serves multiple utility purposes, including payment of platform fees, rewarding users, and governance.
- PancakeSwap is soon coming to the Polygon blockchain, this will empower users with lower fees and fast transaction confirmation while also increasing TVL locked in PancakeSwap.
Get ready to take your DeFi experience to the next level with PancakeSwap v3 on Polygon zkEVM 🚀🎉
🥞 Enjoy flexible trading options 🔄 and reap rewarding liquidity provisioning benefits 💰: https://t.co/cvjEEelTVv
🔔🏝️ But wait, there’s more! We’re launching a 7-week journey… pic.twitter.com/sw31vyOwaa
— PancakeSwap🥞Ev3ryone’s Favourite D3X (@PancakeSwap) June 30, 2023
|Market Cap||$313 million|
|Circulating Supply||210.23 million|
|Max Supply||750 million|
|Vol (24H)||$20 million|
CAKE Price Prediction
- CAKE price displayed recovery at the beginning of this year, but it has fallen over 61% with the death cross of 200MA and 50MA formation in the 24-hour trading chart.
- It is currently trading at $1.49 but has diverged from the oversold zone of RSI-14 below the 30 levels.
- If the CAKE price breaks through its 50-day moving average, it might go upto $2.
Venus is a DeFi lending protocol built on top of the Binance Smart Chain that facilitates decentralized lending to earn high-yield rewards and lowers fee borrowing loans of crypto assets. The key feature that makes Venus unique is its automated algorithmic money market protocol, which determines the loan amount based on the collateral deposited by the users and lets users over-collateralize their position to mint native synthetic stablecoin VAI.
Venus utilizes two assets within its ecosystem: XVS token and VAI stablecoin. XVS
is used to govern the platform, granting users voting rights on proposed protocol changes and to mint new VAI stablecoins using vTokens obtained through collaterals.
Additional Read: Top NFT Tokens by Market Cap
- Venus will soon add the Tron network ecosystem to its market, enabling users to borrow and leverage Tron assets.
⚡@VenusProtocol will soon welcome @trondao ecosystem to the family amongst its new markets. The community looks forward to this exciting collaboration that will allow all users to leverage their tokens and diversify their portfolios!#DeFiSummerSlam $XVS $BTT $USDD $WIN $NFT pic.twitter.com/w3AgmWhbzt
— Venus Community (@Venus_Community) June 28, 2023
|Market Cap||$56 million|
|Circulating Supply||14.40 million|
|Max Supply||30 million|
|Vol (24H)||$3 million|
XVS Price Prediction
- The XVS price strengthened at the beginning of the year and rallied to $9.51 in April.
- It did not sustain the level for long, started falling after rejection from $6.53, and lost about 48% of the price within a month.
- XVS price is currently trading at $3.65, and if bulls manage to pull back, XVS price might touch $4.5 soon.
Hooked Protocol (HOOK)
The Hooked protocol was created to eliminate entry barrier challenges for mass adoption challenges of the web3 ecosystem and motivate users to learn about it. To achieve this, Hooked is building easy-to-use products with incentive mechanisms to gamify education and encourage users to learn about web3.
Some of the intuitive-education products of Hooked Protocol are Hooked Academy with a 30-sec meme video portal, quizzes to earn, proof of work and time mining games, a hooked wallet for staking and swapping, and more. Hooked also provides seamless onboarding of business and decentralized applications through its robust integrated infrastructure.
🚀 1 $HOOK to unlock a BRAND NEW way to master Web3 with Hooked Academy Sensei!
🌱Newbie: Dive into Web3 basics effortlessly and stay motivated throughout the learning process.
🎯 Advanced learners: Take your skills to the next level by focusing on your preferred specific…
— Hooked Protocol🪝 (@HookedProtocol) June 29, 2023
|Market Cap||$56 million|
|Circulating Supply||50 million|
|Max Supply||500 million|
|Vol (24H)||$8 million|
|Founder||Jason Y. , Mike Y., and Jess L.|
HOOK Price Prediction
- HOOK price today is trading at $1.12, with a 24-hour trading volume of $8 million. The HOOK price has risen by 6.34% during the last 24 hours, with its market cap at $56 million as of June 30, 2023.
- HOOK price has dropped following rejection from the 50-day moving average.
- It has diverged from the oversold zone in the RSI-14 indicator. If the HOOK price exceeds the resistance of $1.47, it might make new highs in the upcoming time.
Read On: Top DeFi Projects in 2023
The next project we have on this list of top BNB chain projects is Biswap- a decentralized exchange for swapping BEP-20 tokens. It offers users an easy-to-use and secure platform running over the BNB chain to exchange digital assets at lower trading fees and faster confirmation times.
Like other DEXs, Biswap lets you trade and stake cryptos without creating any account or a third party taking control of your funds, just from your crypto wallet. Biswap native token BSW with a deflationary mechanism to burn tokens every quarter, gives users several within its ecosystem and third-party platforms. Besides DEX, Biswap offers users liquidity pools, farming, launch polls, a multi-type referral program, and an NFT Marketplace.
- Biswasp has launched its AMM(Automated Market Maker) version 3, which allows users to execute limit orders at zero fees and without any slippage, there are other upgrades included as well.
🥳Glorious @Biswap_Dex AMM V3 Release!
Concentrate your liquidity & maximize profit with 80% LP rewards from 2 trading sources:
Enjoy limit orders with a 0% fee and no slippage:
Make regular swaps through the most… pic.twitter.com/ZteIPmBM4v
— Biswap (@Biswap_Dex) June 29, 2023
|Market Cap||$37 million|
|Circulating Supply||373.02 million|
|Max Supply||700 million|
|Vol (24H)||$4 million|
|Founder||A team of 27 members|
BSW Price Prediction
- BSW price recovered in the beginning of this year but has been dropping since Feb mid.
- BSW price is currently standing at $0.0991, with a 24-hour trading volume of $4 million and its market cap is residing at $37 million as on June 30, 2023.
- BSW price has also maintained to diverge from the oversold region and if it crosses above the 50-day moving average, it might go upto $0.13.
The BNB chain is still nascent, but it has the potential to solve real-world problems from finance to the education system. These were a few of the best BNB chain projects that you can research, continually assess your risk profile, and diversify your portfolio while investing in cryptos.
How to invest in Top BNB Projects 2023
Investing in Top BNB chain projects is now made easy, secure, and safe with the CoinDCX app. All you have to do is download the CoinDCX app from playstore and follow the below steps to start your crypto investing journey:
- Once you have downloaded the app, enter your details to register
- Complete KYC and verify mobile & email
- After Verification, add funds to your wallet
- Buy any BNB, CAKE, HOOK, XVS, or BSW.
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